trending Market Intelligence /marketintelligence/en/news-insights/trending/0Gwy1NRV6MmUDl9qIFvghA2 content esgSubNav
In This List

Aurora removes defeating conditions in RNY takeover

Video

S&P Capital IQ Pro | Powering Your Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud


Aurora removes defeating conditions in RNY takeover

Aurora Funds Management Ltd. removed Oct. 4 all defeating conditions related to its offer to take over RNY Property Trust.

The bidder added the defeating conditions — which includes it amassing a 50% stake in RNY and RNY not selling a substantial portion or all of its properties — have not been triggered as well, as of the same day.

Meanwhile, RNY said that the Australian Takeovers Panel decided against conducting proceedings in relation to Aurora's application to stop the company from engaging with potential buyers for its portfolio. RNY noted that the panel's interim orders that tipped the scales to Aurora's favor are no longer in effect.

Aurora has a 25.02% voting power in RNY.