CMT, CCT sweeten merger deal for unitholders
Long-stop date extended to Nov 30; both Reits will hold unitholder meetings on Sept 29 to seek approval for the deal
Singapore
CAPITALAND Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) on Friday announced deal sweeteners for their proposed merger, such as higher accretion to their respective distribution per unit (DPU), and the decision of CMT's manager to completely waive the acquisition fee of S$111.2 million.
Perhaps the market was holding out for a better gross exchange ratio (GER) for CCT which did not materialise. At the closing bell, CMT units were down 3 Singapore cents or 1.5 per cent to S$1.93, while CCT units lost 3 cents or 1.8 per cent to S$1.65.
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