Bre-X unit to merge with oil company

Article Abstract:

Bro-X Minerals Ltd., a Calgary, Canada-based subsidiary of Bre-X Minerals Ltd., plans to merge with Toronto, Canada-based oil company MacDonald Oil Exploration Ltd. The merger plan is subject to the approval of the Alberta Court of Queen's Bench since Bro-X is under the control of a court-appointed monitor. Under the merger, Bro-X stockholders will eventually own half of MacDonald. Tom Devlin, who has been managing Bro-X's daily operations, said the merger with MacDonald would be advantageous to Bro-X shareholder because if Bro-X was dissolved the shareholders will receive nothing.

Comment:

Is target of merger plans of Calgary, Canada-based Bro-X Minerals Ltd.

Crude Petroleum and Natural Gas Extraction, Ontario, Crude Petroleum, Alberta, Petroleum, Article, Bro-X Minerals Ltd., MacDonald Oil Exploration Ltd.

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RealFund head rejects RioCan takeover bid

Article Abstract:

RioCan Real Estate Investment Trust has launched a C$374-million takeover bid for RealFund to create $2-billion entity with more than 125 community shopping centers across Canada. RioCan has offered to pay 1.35 RioCan units for each RealFund unit. However, RealFund president and CEO Christopher Dingle rejected the takeover bid because it was issued at the time that its unit price was low and does not reflect the true value of the company.

Canada, Asset sales & divestitures, Real Estate Invest Trusts, Real Estate Investment Trusts, RealFund

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