MNACT unitholders appeased by all-cash option of S$1.1949 per unit in proposed merger with MCT
MCT to make preferential offering of S$2.0039 per unit to fund the additional cash requirement of up to S$2.2b
Add BT as a preferred source
THE managers of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) are now offering MNACT unitholders the option to receive the entire scheme consideration of their proposed merger, of S$1.1949 per unit, wholly in cash.
MCT will also make a preferential offering of S$2.0039 per unit to fund the additional cash of up to S$2.2 billion required in the new cash-only option.
MNACT and MCT had in December proposed a merger of both real estate investment trusts (Reits), a move that has been criticised by unitholders on both sides and questioned by the Securities Investors Association (Singapore) (Sias).
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
The Great Singapore Office Sale: What’s driving the surge in deal activity in the office market?
Banyan Group heir Ho Ren Yung: ‘Better to be useful than happy’
