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Provider: Wright Reports
$414.00

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Plazacorp Retail Properties Ltd Announces Completion Of Offer For KEYreit


Thursday, 16 May 2013 10:05pm EDT 

Plazacorp Retail Properties Ltd announced that it has been successful in offer to acquire KEYreit (KEYreit). A total of 13,288,370 units of KEYreit (Units) were validly deposited prior to the expiry time of the offer, representing approximately 88.5% of KEYreit's issued and outstanding Units. 9,894,399 Units were tendered to the cash alternative and 3,393,971 Units were tendered to the share alternative. Plazacorp has taken up the tendered Units and payment will be made on or before May 22, 2013. KEYreit unit holders who tendered to the offer and elected the cash alternative will receive CAD5.56, representing 66.6% of the total cash amount elected, plus 0.5692 of a Plazacorp common share for each Unit tendered. KEYreit unit holders who tendered to the offer and elected the share alternative will receive 1.7041 of a Plazacorp common share, representing 100% of the total number of Plazacorp shares elected. Accordingly, Plazacorp will issue approximately 11,415,391 common shares in respect of the offer. On the completion of the subsequent acquisition transaction, Plazacorp intends to de-list the Units from the TorontoStock Exchange. 

Company Quote

7.89
0.01 +0.13%
28 Jun 2013