Wariness among Reit managers, trustees as contentious merger proposals move forward
CCT makes curious clarification; Sabana's trustee keeps mum; and annual report addendum shines light on director independence
THIS past week, there were at least three corporate announcements that would have piqued the interest of investors following the spate of real estate investment trust (Reit) mergers in the local market.
The strangest one, in my view, was from the manager of CapitaLand Commercial Trust (CCT), which is scheduled to seek unitholder approval to merge with CapitaLand Mall Trust (CMT) at an EGM on Sept 29.
The announcement sought to "clarify" a Sept 21 story in this newspaper headlined: "CCT: merger with CMT is between two equals, not a takeover".
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Kraft Heinz misses sales estimates as higher prices deter customers
Marriott boosts full-year profit view after mixed Q1 results
J&J advances US$6.48 billion settlement of talc cancer lawsuits
US holds quarterly debt sale steady, starts buybacks this month
US dollar nears six-month high after pre-Fed data shock, yen steady
KFC parent Yum reports surprise drop in global same-store sales on weak demand