The French company Unibail and Rodamco Europe of the Netherlands have announced their intention of a public exchange offer to create a European leader in commercial real estate. The merger between the two property companies provides for an exchange of 0.530 ordinary Unibail shares for each Rodamco ordinary share. Furthermore, the shareholders of Rodamco may receive 0.530 Unibail bonds reimbursable in shares (ORA) for each ordinary Rodamco share. This transaction values the Dutch group at...