1. KK DaVinci Advisors, Japan's largest private real estate fund, has hired Merrill Lynch & Co. to help complete a $1.2 billion hostile takeover of TOC Co., a commercial property leasing firm.
2. It will pay 1,100 yen per TOC share, a 4.7 percent premium to the stock's closing price on May 18.
3. It can boost TOC's revenue by taking advantage of unrealized gains on property the company owns to borrow and invest in more profitable real estate.
The company won't purchase shares if it fails to accumulate majority control by July 18.
Are hostile takeovers good or bad for humanity as a whole?
Who is unbiased enough to judge?
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