News Formal

EXCLUSIVE Activist investor Quarz opposes terms of $3 bln Singapore REIT merger

  • 📰 Reuters
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Activist investor Quarz Capital Management said it is opposed to the terms of a proposed S$4.2 billion ($3.1 billion) merger of two Temasek-linked Singapore real estate investment trusts, saying the target firm was significantly undervalued.

On Dec. 31, MCT announced plans to buy MNACT, seeking to create the seventh-largest REIT in Asia with an expected market valuation of about S$10.5 billion.

"Quarz has been approached by many MNACT unitholders on MCT's inferior offer for MNACT. We agree that the offer is value destructive to unitholders and significantly undervalues MNACT," Moermann and Havard Chi, Quarz's Singapore-based research head, said in the letter. Since then, MCT's units have fallen 8.5% to S$1.83 as of Wednesday's close, while MNACT's were unchanged at S$1.1.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 2. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Foreign Investment in U.S. Commercial Property Exceeds Pre-Pandemic LevelsForeign investment in U.S. commercial property surpassed pre-pandemic levels last year, as overseas investors piled back in after travel restrictions eased and the U.S. economy bounced back Nice! Why would we want Americans to own property in America? '...the U.S. economy bounced back'
Källa: WSJ - 🏆 98. / 63 Läs mer »