ALog Trust units could bounce this week, but revised merger deal is still less than compelling for its unitholders

WITH their extraordinary general meetings (EGMs) only days away, ESR-Reit and Ara Logos Logistics Trust (ALog Trust) have deferred the vote and revised the financial terms of their merger - in favour of unitholders of ALog Trust.

The move comes after two proxy advisory firms - Institutional Shareholder Services (ISS) and Glass Lewis - recommended that unitholders of ALog Trust vote against the proposed merger with ESR-Reit.

The revised merger terms - announced in the wee hours of Saturday (Jan 22) - could trigger a pop in ALog Trust's market price this week. But whether the new deal makes unitholders of ALog Trust more amenable to voting for the merger is another matter.