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Analysts recommend unit holders of ESR-REIT and ARA LOGOS Logistics Trust to vote in favour of proposed merger

Felicia Tan
Felicia Tan10/19/2021 12:06 AM GMT+08  • 5 min read
Analysts recommend unit holders of ESR-REIT and ARA LOGOS Logistics Trust to vote in favour of proposed merger
According to the analysts, the merger did not come as a surprise.
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CGS-CIMB Research analysts Eing Kar Mei and Lock Mun Yee have kept “overweight” on the REIT sector, as a proposed merger between ESR-REIT and ARA LOGOS Logistics Trust (ALOG) was announced on Oct 15.

The proposed merger will see all the units in ALOG acquired with 9.5 cents in cash per unit and 1.6765 new ESR-REIT units per ALOG unit, issued at 51 cents apiece. This works out to a total of 95 cents per ALOG unit.

Upon completion of the merger, ALOG will be delisted and become a sub-trust of ESR-REIT.

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