Cousins Properties Incorporated announced the completion of its previously announced merger with Parkway Properties, Inc. The common stock of the combined company will trade under the symbol "CUZ" on the NYSE.

The closing follows the satisfaction of all conditions to closing of the merger, including receipt of approval of the transaction by Cousins and Parkway stockholders, which stockholder approvals were obtained on August 23, 2016.

Under the terms of the merger agreement signed April 28, 2016, Parkway stockholders were entitled to receive, for each share of Parkway common stock or limited voting stock held, 1.63 shares of Cousins common stock or limited voting preferred stock, respectively.

As previously announced, Cousins anticipates completing its spin-off of the Houston-based assets of the combined company into a new, publicly-traded REIT called Parkway, Inc. on October 7, 2016. Once the spin-off is complete, the common stock of New Parkway will trade under the symbol "PKY" on the NYSE. The spin-off will be effected by a special dividend to all Cousins stockholders, including legacy Parkway stockholders, prior to the market open on October 7, 2016.