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No. of Recommendations: 11
They want to issue shares in order to fund a merger with VEREIT, which is already a wholly-owned subsidiary of Realty Income. WHAT THE ##$%*!!! In what way does this make any sense? Am I missing something?

Huh? The merger hasn't closed yet, so VEREIT is still it's own stand-alone company, with outstanding stock that's still trading. Here's the presentation that O provided when the agreement was reached: On page 3, it says Expected to close Q4 2021 for both Merger and spin-off Since we're only in Q3, that's still a few months away.

On page 3, it also says VEREIT’s shareholders to receive 0.705 of a share of Realty Income for each VEREIT common share which means that O has to issue the new stock.

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