The deal would take Konover private. Shareholders will be asked to vote on an estimated $200 million merger with PSCO Acquisition Corp., a newly formed company owned by Prometheus and a wholly owned subsidiary of Kimco Realty Corp. of New Hyde Park, NY. Prometheus owns 67% of Konover common through a 1999 stock deal valued at the time at $200 million.

Konover owns directly or through joint ventures 37 shopping centers in seven states totaling 4.8 million sf. Prometheus and Konover signed a definitive merger agreement in June.

The agreement calls for Konover common shareholders to receive $2.10 per share in exchange for their stock. Series A convertible preferred stockholders would receive either a new preferred security or $2.20 cash per share of common.