Kimco Realty completed the merger with Weingarten Realty Investors in a $4bn deal.

Kimco Realty, a real estate investment trust that invests in shopping centers, completed the merger with Weingarten Realty Investors, a publicly traded real estate investment trust that invests in shopping centers, in a $4bn deal. "Combining these highly complementary platforms is a win-win for shareholders of both companies. After examining the deal from every angle, it became increasingly clear that the potential of the integrated business is much greater than the sum of its parts. The combined company’s increased size and scale, together with its financial strength, should drive an advantageous cost of capital, allowing the combined company to more readily pursue value creation opportunities. We are excited to deliver this transaction to our shareholders, who will realize compelling and immediate value while also benefiting from the upside potential associated with owning the industry’s preeminent open-air shopping center and mixed-use REIT," Andrew Alexander, Weingarten Chairman, President and CEO.