trending Market Intelligence /marketintelligence/en/news-insights/trending/-4nSQtZW4zOI8dM7KxSvAA2 content esgSubNav
In This List

The Parking REIT urges stockholders to reject MacKenzie Realty mini-tender offer

Blog

Using ESG Analysis to Support a Sustainable Future

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook


The Parking REIT urges stockholders to reject MacKenzie Realty mini-tender offer

The Parking REIT Inc.'s board is calling on stockholders to reject MacKenzie Realty Capital Inc.'s unsolicited cash mini-tender offer for up to 320,000 shares of the company's common stock at $12.17 apiece.

The shares represent roughly 4.9% of the parking facility-focused real estate investment trust's outstanding share capital.

The board believes, among other things, that the offer price is considerably less than the current and potential value of the shares, which the company estimates to have a per-share value of $25.00.

The offer will expire April 9 at 11:59 p.m. PT.