trending Market Intelligence /marketintelligence/en/news-insights/trending/CcLzHMn0C37SJbPGwUsi6A2 content esgSubNav
In This List

Acceptance period for Aurora-RNY takeover gets automatic extension

Blog

Infographic: Key questions when assessing an Alternative Investment Funds (AIFs) creditworthiness

Blog

Perspectives from China: Chinese M&A in 2022

Blog

Headwinds slow global M&A in Q2’22

Blog

New Corporate Realities: The Next Generation of Managing Risk and Operations


Acceptance period for Aurora-RNY takeover gets automatic extension

The acceptance period for Aurora Funds Management Ltd.'s off-market takeover bid for all the units in RNY Property Trust was automatically extended to Oct. 24 from a previous deadline of Oct. 11.

The 14-day automatic extension was a result of an increase in the fund's voting rights in RNY to more than 50%. Aurora Funds, on behalf of Aurora Property Buy-Write Income Trust, made a cash bid of 1.5 Australian cents apiece for the units in August before announcing a conditional increase of the offer price to 1.7 cents per unit in September.

RNY's manager, RNY Australia Management Ltd., recommended Aurora's bid after the offer was deemed unconditional.