trending Market Intelligence /marketintelligence/en/news-insights/trending/eppxnmzlcufr2jlyocczka2 content esgSubNav
In This List

Presidio Property board urges shareholders to reject common stock tender offer

Blog

Insight Weekly: Recession risk persists; Banks pull back from crypto; 2022 laggard stocks rally

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Insight Weekly: Inflation eases; bank M&A slows; top companies boost market share

Blog

Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet


Presidio Property board urges shareholders to reject common stock tender offer

The board of diversified real estate investment trust Presidio Property Trust advised shareholders to reject a tender offer launched by MacKenzie Capital Management LLP-controlled SCM Special Fund 3 LP to purchase up to 1.6 million shares of its series A common stock at $2.60 per share.

The board argued, among other things, that the offer represents an opportunistic attempt to make a profit by purchasing the company's stock at a very low price relative to its value.

The offer expires at 11:59 p.m. PT on July 20, unless otherwise extended.