City Office REIT Acquisition Nears Final Approval

Shareholders of City Office REIT are set to vote on October 16th regarding a proposed acquisition by MCME Carell Holdings. The deal, valued at $1.1 billion including assumed debt, offers $7.00 per share. The company’s stock recently traded at $6.95, hovering just below the acquisition price.

The acquisition proposal delivers significant value appreciation for investors. The $7.00 per share price represents a 26% premium over the stock’s closing price prior to the July 24th announcement and a 39% premium to the 90-day volume-weighted average price. Chief Executive Officer James Farrar emphasized that this transaction provides “immediate and substantial value realization for our shareholders” amidst ongoing market volatility.

Corporate governance milestones are already complete. The company filed its definitive proxy statement with regulators on... Read more...