Should Ivanhoe Cambridge be allowed to vote on ARA Logos' merger with ESR-Reit?
Using its 8.7 per cent block of ARA Logos units to push the merger through could further irritate minority investors
WHEN ESR-Reit and ARA Logos Logistics Trust (ARA Logos) announced their proposed merger on Oct 15, they said an entity called Ivanhoe Cambridge Asia - which holds nearly 126.7 million units in ARA Logos, amounting to more than 8.7 per cent of its total outstanding units - has provided an irrevocable undertaking to support the deal.
This irrevocable undertaking could be crucial to whether the merger goes through - not least because the terms of the deal have not gone down well with many other unitholders of ARA Logos.
The joint announcement did not, however, mention that Ivanhoe Cambridge also…
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