Whitestone REIT has announced that its board will carefully evaluate a $15 per share offer from MCB Real Estate, which values the company at approximately $1.45 billion. While Whitestone remains focused on its long-term strategy, discussions surrounding the company's valuation and outlook continue.
)"will carefully consider" the $15-per-share offer officially made by MCB Real Estate earlier this week, which values the shopping mall operator at around $1.45 billion, the company told Investing.com exclusively.
Earlier today, Investing.com also spoke exclusively to Bruce Schanzer, Chairman of Erez Asset Management, one of the company's most active shareholders, who said the $15-dollars-a-share offer represents WSR's fair valuation in his view. Other sources familiar with the matter consulted by Investing.com have also agreed with Mr. Schanzer's view, citing WSR's real estate assets as worth between $15-18 dollar a share.
Should a negotiation between the two parties in fact occur, sources familiar with the buying side's thinking have said the margin for upping the price might be restricted to around $0.25 to $0.50, which would represent"a nearly irrelevant share of the total transaction price.""If it comes down to this, I highly doubt this would be a deal-breaker," they told Investing.com exclusively.
Whitestone REIT MCB Real Estate Acquisition Offer Valuation Shareholders
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