Melcor Developments Secures Support for REIT Acquisition

The latest announcement is out from Melcor Developments ( (TSE:MRD) ).

Melcor Developments Ltd. and Melcor REIT have announced voting support agreements with Telsec Property Corporation and FC Private Equity Realty Management Corp. for Melcor’s acquisition of Melcor REIT. The agreement involves Melcor acquiring its unowned equity interest in Melcor REIT Limited Partnership for $5.50 per unit, an 11% increase from prior offers. This acquisition will lead to the repurchase and cancellation of all outstanding trust units, with a special meeting scheduled for April 11, 2025, to finalize the arrangement. The support from key stakeholders like the Telsec Group and FC Group is crucial for the successful completion of this transaction.

More about Melcor Developments

Melcor Developments Ltd. operates in the real estate industry, focusing on property development and management. The company is involved in the acquisition, development, and management of commercial and residential properties, primarily in Canada.

YTD Price Performance: -4.12%

Average Trading Volume: 485

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $261.4M

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