ESR-REIT makes 5.3% higher offer for ARA LOGOS

The increase represented increased considerations of 2.1% in cash and 5.8% in shares.

ARA LOGOS (ALOG) announced the amendment and restatement of the merger with ESR-REIT on 22 January.

The revised scheme consideration by ESR-REIT represents an increase of 2.1% in cash consideration and 5.8% in consideration units for ALOG unitholders. Based on ESR-REIT's 1-month volume-weighted average price, the illustrative value of the Revised Scheme Consideration is $0.9332, which represents an increase of 5.3% when compared to the original scheme consideration on a like-for-like basis.

ARA LOGOS Logistics Trust CEO Karen Lee said, "The merits of the merger remain intact and compelling. The revised offer reflects ESR-REIT's confidence in merging with ALOG to create a leading New Economy APAC S-REIT with a trajectory to supercharge growth. With this revised offer, the attractiveness of the proposal is further enhanced. We continue to believe that the merger is beneficial for the growth of both ALOG and ESR-REIT moving forward, especially with the completion of the acquisition of ARA Asset Management, which includes our Sponsor LOGOS Group by ESR Cayman Limited."

Given the amended and restated agreement and the revised scheme consideration, the ALOG Manager will be deferring the EGM and Scheme Meeting on 27 January to a future date to be determined and will be announced in due course.

Follow the links for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!