ESR-REIT, together with Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT), announced the proposed merger of the two REITs on July 16.
The merger will be conducted via a trust scheme of arrangement.
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The manager of ESR-REIT says it will not increase the scheme consideration and that the exchange ratio of 0.940 is final.
In an August 6 filing, the manager says it will only be allowed to subsequently increase the scheme consideration only if faced in a “competitive situation”.
