Agreement and Plan of Merger (2007)Full Document 

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AGREEMENT AND PLAN OF MERGER
Among
ARCHSTONE-SMITH TRUST,
ARCHSTONE-SMITH OPERATING TRUST,
RIVER HOLDING, LP,
RIVER ACQUISITION , LP
and
RIVER TRUST ACQUISITION (MD), LLC
Dated as of May 28, 2007

 


 

TABLE OF CONTENTS
             
        Page
 
           
ARTICLE I DEFINITIONS     2  
 
           
   Section 1.01
  Definitions     2  
   Section 1.02
  Interpretation and Rules of Construction     13  
 
           
ARTICLE II THE MERGERS     13  
 
           
   Section 2.01
  Mergers     13  
   Section 2.02
  Articles and Bylaws     14  
   Section 2.03
  Effective Times     14  
   Section 2.04
  Closing     15  
   Section 2.05
  Directors/Trustees and Officers of the Surviving Entity; Trustees of the Operating Trust     15  
   Section 2.06
  Other Transactions     15  
 
           
ARTICLE III EFFECTS OF THE MERGERS     17  
 
           
   Section 3.01
  Effect on Shares and Other Equity Interests     17  
   Section 3.02
  Effect on Units     19  
   Section 3.03
  Exchange of Share Certificates, Unit Certificates and Uncertificated Units; Paying Agent     21  
   Section 3.04
  Withholding Rights; No Interest on Merger Consideration     25  
   Section 3.05
  Dissenters’ Rights     25  
   Section 3.06
  Suspension of DRIP     26  
 
           
ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND THE OPERATING TRUST     27  
 
           
   Section 4.01
  Organization and Qualification; Subsidiaries; Authority     27  
   Section 4.02
  Organizational Documents     28  
   Section 4.03
  Capitalization     28  
   Section 4.04
  Authority Relative to this Agreement, Takeover Laws, Validity and Effect of Agreements     31  
   Section 4.05
  No Conflict; Required Filings and Consents     32  
   Section 4.06
  Permits; Compliance with Laws     33  
   Section 4.07
  SEC Filings; Financial Statements; No Unknown Liabilities     34  
   Section 4.08
  Absence of Certain Changes or Events     35  
   Section 4.09
  Absence of Litigation     35  
   Section 4.10
  Employee Benefit Plan     35  
   Section 4.11
  Labor Matters     37  
   Section 4.12
  Information Supplied     38  
   Section 4.13
  Property     38  
   Section 4.14
  Intellectual Property     40  
   Section 4.15
  Taxes     41  
   Section 4.16
  Environmental Matters     44  
   Section 4.17
  Material Contracts     45  
   Section 4.18
  Brokers     47  
   Section 4.19
  Opinion of Financial Advisor     47  

 


 

             
        Page
 
           
   Section 4.20
  Insurance     47  
   Section 4.21
  Interested Party Transactions     47  
   Section 4.22
  Investment Company Act of 1940     48  
 
           
ARTICLE V REPRESENTATIONS AND WARRANTIES OF BUYER PARTIES     48  
 
           
   Section 5.01
  Corporate Organization     48  
   Section 5.02
  Ownership of MergerCo and Operating Trust MergerSub; No Prior Activities     49  
   Section 5.03
  Authority Relative to this Agreement     49  
   Section 5.04
  No Conflict; Required Filings and Consents     50  
   Section 5.05
  Information Supplied     50  
   Section 5.06
  Absence of Litigation     51  
   Section 5.07
  Required Financing; Guarantees     51  
   Section 5.08
  No Ownership of Company Shares     52  
   Section 5.09
  Brokers     52  
 
           
ARTICLE VI CONDUCT OF BUSINESS PENDING THE MERGERS     52  
 
           
   Section 6.01
  Conduct of Business by Company Parties Pending the Mergers     52  
   Section 6.02
  Other Actions     58  
   Section 6.03
  Control of Company Parties’ Business     58  
 
           
ARTICLE VII ADDITIONAL AGREEMENTS     58  
 
           
   Section 7.01
  Proxy Statement, Information Statement, Other Filings and Form S-4     58  
   Section 7.02
  Shareholders’ Meeting     60  
   Section 7.03
  Access to Information; Confidentiality     62  
   Section 7.04
  No Solicitation of Transactions     63  
   Section 7.05
  Employee Benefits Matters     65  
   Section 7.06
  Directors’ and Officers’ Indemnification and Insurance     67  
   Section 7.07
  Further Action; Reasonable Efforts     69  
   Section 7.08
  Transfer Taxes     71  
   Section 7.09
  Public Announcements     71  
   Section 7.10
  Cooperation with Financing    

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