Cash offer by Bidco of Brookfield, CPPIB and ARCA Investments for all the units of O&Y REIT. A subsequent transaction is proposed under which, following the take-up of the tendered units, the declaration of trust for the REIT would be amended to make the units redeemable for the offer price, to be paid for out of the sales proceeds of the REIT assets to the acquisition group.
Cominar REIT through 10 Newco subsidiaries is offering cash or (at the Canmarc unitholder's option) Cominar units for Canmarc units, subject to the total number of Cominar units being capped at 16M but with no potential proration of the cash consideration. The Canmarc Units would be acquired through separate corporate subsidiaries as Cominar is a s. 108(2)(b) unit trust.
The Trust is to acquire all of the outstanding shares of VKY (a.k.a.,VisionSky) under an Alberta Plan of Arrangement, on the basis of 0.125 of a Trust unit for each share, so as to result in VKY shareholders holding approximately 12.3% of the Trust units. The newly-formed Trust completed a private placement of Trust units in November 2012 for proceeds of $7.4M in order to acquire U.S. oil exploration assets, utilizing the structure described below.
Offer by Plazacorp for units of KEYreit. The consideration is a combination of cash and Plazacorp shares (with the ability to make an s 85 election), with such consideration being at the election of the KEYreit unitholder but with the overall cash and share proportions fixed at 50-50. The consideration (valued at $8.35 per KEYreit unit) represents a 35% premium over the closing price when the rival Huntingdon offer was announced. (The Huntingdon offer was varied and extended, most recently, on April 1, 2013.)
The Offeror is a real estate operating company which is listed on the TSX, was incorporated in B.C. and owns a portfolio of 36 industrial, office, retail and aviation-related properties in Canada, and a 30% interest in FAM REIT, whose portfolio it manages. It is a successor to Huntingdon REIT as a result of the conversion of Huntingdon REIT from an income fund to a corporation by way of a B.C. plan of arrangement which was effective December 31, 2012.
See full summary under Declaration of Trust Amendment - Cash or Shares.
NWI (see summary) will be merged into NWH under s. 132.2, with the former NWI unitholders receiving 0.208 NWH units for each NWI unit. The affiliated entities holding a 65% economic interest in NWI will exchange their exchangeable units under ITA s. 97(2) in a subsidiary LP of NWI for units which are redeemable for NWH units.
