Jan 12 Cominar REIT said it
extended its offer to buy out rival Canmarc Real Estate
Investment Trust to accommodate a hearing where it
will seek to block Canmarc's unitholder rights plans.
In November, Cominar offered to buy Canmarc -- which owns
and operates retail and office properties across Canada -- for
C$838 million ($821.09 million), which Canmarc had called too
The offer will be open for acceptance until Jan. 27, Cominar
said in a statement, adding it will look to have the unitholder
rights plan ceased at the hearing before the Bureau de décision
et de révision en valeurs mobilières on Jan. 19.
"The unitholder rights plans of Canmarc are preventing
Canmarc unitholders from accessing the offer," Cominar said.
Cominar had earlier set Jan. 12 as the deadline for the