Provider: Wright Reports
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Plazacorp Retail Properties Ltd Announces Completion Of Offer For KEYreit
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.
Latest Developments for KEYreit
- Plazacorp Retail Properties Ltd Completes Acquisition Of Remaining KEYreit Units
- Huntingdon Capital Corp Announces Expiration Of Offer For KEYreit
- Plazacorp Retail Properties Ltd And KEYreit Reiterate Attractiveness Of Plazacorp's $8.35 Acquisition Proposal To KEYreit Unit Holders
- Huntingdon Capital Corp Reaffirms 100% Cash Offer At $8.00 Per KEYreit Unit
Latest Key Developments in REITs
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