MacArthurCook reit

neontet
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14 years 6 months ago #1792 by neontet

Replied by neontet on topic Re:MacArthurCook reit ... now @ potentially 24% yield

so, macarthurcook reit was once 25 cents. people were scared it couldnt find refinancing. as far as i know, it still has not announced a refinancing deal. but the sky not so dark now, and it looks possible to get not just refinancing but at lower than expected interest rates. otherwise why the reit has been climbing up? now 43 cents!

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Mel
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14 years 6 months ago #1839 by Mel

Replied by Mel on topic Re:MacArthurCook reit ... now @ potentially 24% yield

Macarthur shot up 3 cents now.....Why? cos shareholder not happy with its rights issue & share issue. Cambridge REIT is opposing it... info.sgx.com/webcoranncatth.nsf/VwAttach...inal.pdf?openelement info.sgx.com/webcoranncatth.nsf/VwAttach...inal.pdf?openelement info.sgx.com/webcoranncatth.nsf/VwAttach...inal.pdf?openelement

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neontet
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14 years 6 months ago #1842 by neontet

Replied by neontet on topic Re:MacArthurCook reit ... now @ potentially 24% yield

My friend said he got a call today from someone representing Macarthurcook Reit, asking for support to vote at the special meeting on next Monday, Nov 23. The sweet voice at the end of the line said that Cambridge has not made an offer to takeover Macarthur. And, where is Cambridge gonna get the cash from when it is itself quite \'poor\'? :lol:

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neontet
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14 years 5 months ago #1843 by neontet

Replied by neontet on topic Re:MacArthurCook reit ... now @ potentially 24% yield

DOES ANYONE HAVE ANY IDEA WHAT IS A FAIR VALUE FOR MACARTHURCOOK REIT????? A BIDDING WAR HAS NOT ERUPTED, ALTHOUGH ONG GEORGE WANG HAS JUST BECOME A SUBSTANTIAL SHAREHOLDER . WOULD CAMBRIDGE REIT BUY UP MORE MACARTHURCOOK REIT IN ORDER TO HAVE BIGGER VOTING POWER?

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peter lee
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14 years 5 months ago #1844 by peter lee

Replied by peter lee on topic Re:MacArthurCook reit

there is a big notice in business time by Cambridge REIT. i also disgree in selling some units at large discount to another company.

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Mel
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14 years 5 months ago #1848 by Mel

Replied by Mel on topic Re:MacArthurCook reit

grandmaster89 at wallstraits.com answered some Qs on my mind. Just to share with you: CIT Goals a) Prevent the Recap Exercise as it will dilute its stake. b) Vote out current MI REIT Management and place itself as the new Management c) Attempt to refinance MI REIT Loans or merge together d) If this is impossible, wind MI Reit down with an estimated cash offer of approx 45 cents Goal (a) is understandable but (b) and ÃÂ© is not as there is no tangible benefits in helping their own rival strengthen its own balance sheets. But I feel there is a more sinister reasoning behind goal (a). If there is no recap exercise, MI Reit balance sheet will not be sorted out and hence it might very well default from its Dec 09 loans. This will weaken its only local rival tremendously. If goal (b) succeeds, then CIT will either refinance the loans or wind down MI Reit. If it refinance the loans, there will definitely be a merger between then. CIT will benefit tremendously from this as it will get new assets (and acquisition fees) at a much much lower costs. It is far cheaper to gain assets in this way than to raise new loans to buy or build one. If a merger is unlikely, CIT will just wind down MI Reit at an estimated 45 cents. Considering it\'s 10% stake came when Mi Reit was valued at around 30-35cents, it will make a huge profit in this endeavour. Consider this, it throws in money to buy a 10% stake in a rival and 6 months later, it kills the rivals plus make a profit out of it. I can only see a win-win for CIT and a lose-lose of MI REIT shareholders unless they merge.

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