Genstar on the block as part of spinoff

Article Abstract:

Conglomerate corporation Imasco Ltd of Montreal, Quebec, has announced that it is putting its residential development unit Genstar Development Co on the block. The spinoff is part of a complex C$10.3-billion deal by parent British American Tobacco PLC, which is seeking to buy the remaining 58% it does not yet own in Imasco to acquire its tobacco operations and sell the remaining assets. Imaco has an estimated value of at least C$400 million.

Land Subdivision and Land Development, Diversified Companies, Housing Developers, Genstar Development Co.

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Summit to continue with Avista takeover bid

Article Abstract:

Summit REIT announced that it would proceed with its unsolicited acquisition offer for Avista. Summit will offer Avista unitholders cash and stock with a total value of $9.45 a unit amounting to $193 million. This offer is allegedly better than the offer of Canadian Real Estate Investment Trust's (CREIT) offer which was an all-paper offer. Six of the seven Avista trustees, however, are reportedly in favor of CREIT's bid.

Acquisitions & mergers, Real Estate Investment Trusts, Real Estate Invest Trusts, Avista, Summit REIT

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