NEW YORK, May 29 /PRNewswire/ -- S&P REIT Composite constituent Equity One Inc. (NYSE:EQY) will replace Bandag Inc. (NYSE:BDG) in the S&P MidCap 400 index after the close of trading on a date to be announced. Bandag is being acquired by Bridgestone Americas Holding, Inc. in a deal still pending final approvals.
Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com/.
Equity One is a REIT that engages in the ownership, management, acquisition, renovation, and development of neighborhood and community shopping centers in the United States. Headquartered in North Miami Beach, FL, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Retail REITs Sub-Industry index.
Following is a summary of the change:
S&P MIDCAP 400 INDEX - To Be Announced COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Equity One Financials Retail REITs DELETED Bandag Consumer Discretionary Tires & Rubber
Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.
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