MCB Real Estate has increased its offer to acquire Whitestone REIT to $15.00 per share, valuing the total deal at approximately $1.45 billion. This new proposal represents a 14.5% premium over the initial offer. The company has communicated its all-cash proposal to the Whitestone board, emphasizing the certainty of the offer and seeking engagement. In other market news, Primaris REIT successfully closed a $74.7 million treasury and secondary equity offering, while KBS completed a $550 million refinancing facility for Prime US REIT. Additionally, CC Cap announced a $250 million investment in Westaim at a share price of CAD 4.75, alongside a stock buyback plan worth up to $100 million at CAD 5.00-5.25 per share.
MCB Real Estate Boosts Whitestone REIT Takeover Bid to $1.45B https://t.co/98dkbjOeqp
MCB Raises Offer To Buy Whitestone REIT To Nearly $1.5B via @Bisnow #reit #cre https://t.co/N16zTsvfEc
MCB Real Estate sweetens takeover bid for Whitestone REIT to $1.45 billion https://t.co/HaXe2Aw0PT https://t.co/P9e3FtVdgV