Hot stock: Manulife US Reit up as much as 3.8% on report of manager being acquired

SHARES of Manulife US Reit hit a near-two-week high on Wednesday (Mar 15), amid reports that its manager is exploring a sale to Korean asset manager Mirae Asset Global Investments. 

In its response to media reports, the real estate investment trust’s (Reit) manager Manulife US Real Estate Management confirmed that it is currently in discussions with Mirae Asset regarding a potential transaction which may involve the acquisition of its own shares, and the subscription of new shares in Manulife US Reit. 

Mirae Asset is said to be buying the Reit’s manager for some 200 billion won (S$206.4 million), Maeil Business News Korea reported.