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NorthStar Realty Finance Corp. Message Board

  • dar200 dar200 Jun 12, 2014 7:41 PM Flag

    New merger = form, not substance

    8-K filed tonight describes procedural steps to simplify nrf structure and facilitate tax free spin of nsam.
    Other than 930K of registration fees to sec and I suppose a few million to lawyers and tax people, the whole thing is a nothing to nrf stockholders.

    The steps include merging the operating partnership into nrf which will then merge into its subsidiary, NRFC Sub-Reit, which will then change its name to Northstar Realty Finance Corp (current name) which will then reverse split 1 for 2 followed by a distribution of nsam 1 for 1.

    What you get is a mirror image of what you got, minus a few million for a paper charade.

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