Forensic Analyst

Jason Yap, CFA

Forensic Accounting

Sabana Industrial REIT / Forensic Accounting

<ul>
<li>In December 2020, Sabana's unitholders voted down a proposed merger with ESR-REIT</li>
<li>While Sabana's unitholders were ostensibly holding out for more favourable transaction terms, this was not forthcoming and transaction ultimately fell through</li>
<li>In this Insight, we look into Sabana a year on and discuss whether its unitholders have been left to rue the failed transaction and this was but a pyrrhic victory</li>
</ul>


In December 2020, Sabana's unitholders voted down a proposed merger with ESR-REIT
While Sabana's unitholders were ostensibly holding out for more favourable transaction terms, this was not forthcoming and transaction ultimately fell through
In this Insight, we look into Sabana a year on and discuss whether its unitholders have been left to rue the failed transaction and this was but a pyrrhic victory


One Year After Failed Merger, A Pyrrhic Victory for Sabana's Unitholders?