Cambridge's last stand

Article Abstract:

Cambridge Shopping Centres CEO J. Lorne Braithwaite is fighting an attempt by the pension fund Caisse de Depot et Placement du Quebec to take over the company. The caisse, which already owns a 43% stake in the company, has announced a bid for another 15 million shares for C$12.50 per share. The caisse and other institutional shareholders are frustrated by the company's slow growth during a period when the country's competitors enjoyed spectacular growth.

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Cambridge fails to find white knight

Article Abstract:

Cambridge Shopping Centres Ltd failed to secure competing bids to the offer made by Caisse de depot et placement du Quebec to acquire the shopping mall owner in a $331 million deal. The absence of more attractive bids gives minority shareholders the option to either accept the offer or risk taking illiquid stock. Caisse's offer called for 25 million shares of Cambridge at $13.25 per share.

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