In today’s briefing:
- ARA LOGOS/ESR-REIT Scheme Meeting on 21 March, IFA Opinion
ARA LOGOS/ESR-REIT Scheme Meeting on 21 March, IFA Opinion
- Under the revised scheme consideration, each ARA LOGOS (ALLT SP) unitholder will receive S$0.097 in cash and 1.7729 new ESR-REIT (EREIT SP) units at an issue price of S$0.4924.
- The IFA considers the revised scheme consideration to be fair. We think that IFA’s valuation approach is broadly sound with some areas for improvement.
- We think that the revised offer is reasonable. For a 28 April payment date, the gross and annualised spread is 2.9% and 18.2%, respectively.
Before it’s here, it’s on Smartkarma
