Blackwells Offers To Buy Monmouth Real Estate For $3.8B

Law360 (December 21, 2020, 4:29 PM EST) -- Activist hedge fund Blackwells Capital on Monday revealed another offer to buy Monmouth Real Estate in a deal that could be worth roughly $3.8 billion, including debt, after an earlier advance was spurned by the industrial real estate investment trust.

Blackwells Capital LLC said it has offered to pay $18 a share for New Jersey-based Monmouth Real Estate Investment Corp. That $3.8 billion figure includes assumption of debt.

In the Monday announcement, the New York-based firm made public both its latest offer and an earlier offer the firm had made for Monmouth.

"As a public company, Monmouth has significantly underperformed comparable...

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