Melcor Developments Acquires Remaining REIT Shares

Melcor Developments (TSE:MRD) has released an update.

Melcor Developments Ltd. is set to acquire the remaining 45% equity interest in Melcor Real Estate Investment Trust at a rate of $4.95 per Trust Unit, offering a significant premium over recent trading prices. This strategic move will lead to the buyout of both the Trust Units and the REIT’s 5.10% convertible debentures by year-end, with recommendations from the REIT’s Board and financial advisors affirming the deal’s fairness.

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