trending Market Intelligence /marketintelligence/en/news-insights/trending/wEK_rQ4NQlQiXhs0NViY2g2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

KBS recommends against mini-tender offer

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

KBS recommends against mini-tender offer

KBS Real Estate Investment Trust Inc. urged its shareholders to reject a mini-tender offer from CMG Partners LLC to buy up to 2.0 million of the company's common stock, representing roughly 1.1% of the company's outstanding shares.

The company said the bidder's offer price of $1.51 per share is lower than the remaining per share estimated net proceeds from its liquidation that will be received by shareholders.

The company previously recommended against CMG Partners' per-share offer of $1.41 in July.

KBS Real Estate reiterated that its board approved an estimated per-share value of $2.475 for its common stock, effective March 21 and that the estimated remaining liquidation distribution is expected to be in the range of $2.27 to $2.68 per share.