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Huntingdon Capital Corp Reaffirms 100% Cash Offer At $8.00 Per KEYreit Unit

Monday, 8 Apr 2013 08:00am EDT 

Huntingdon Capital Corp announced that the Board of Directors is still in the process of reviewing the terms of KEYreit's amended agreement to be sold to Plazacorp Retail Properties Ltd. as disclosed on April 4, 2013 and have confirmed that Huntingdon's last offer to acquire 100% of the issued and outstanding trust units of KEYreit, excluding Units already held by Huntingdon, for consideration per Unit of either $8.00 in cash; or $6.00 in cash and 0.16038492 of a Huntingdon common share, at the election of each holder, will not be increased and represents Huntingdon's final offer for KEYreit's Units. The Plazacorp Amended Offer which is subject to proration is not open for acceptance until May 2013 and as a result, will be subject to fluctuations in Plazacorp's share price during this time. Based on the closing price of Plazacorp's shares on April 6, 2013, Plazacorp's Amended Offer implies a value of approximately $8.14 per KEYreit unit. Huntingdon has engaged Farris, Vaughan, Wills & Murphy LLP as legal advisors. Huntingdon has engaged Trimaven Capital Advisors Inc. as financial advisor in connection with Huntingdon's Final Offer, including arranging and advising on the loan facility being provided by KingSett Real Estate Mortgage LP No. 3, an affiliate of KingSett Capital. 

Company Quote

-0.01 -0.08%
25 Jul 2014