Dundee Climbs Canadian REIT Ranks With $576M Merger

Law360, New York (January 17, 2012, 6:27 PM EST) -- Dundee Real Estate Investment Trust has agreed to acquire fellow Canadian REIT Whiterock in a deal valued at more than CA$584 million (US$576 million), the trusts announced Tuesday.

The acquisition makes the Toronto-based Dundee Canada's largest national office REIT and its fourth-biggest REIT overall, according to the trusts' joint announcement.

Dundee will purchase all the outstanding shares of Whiterock, also based in Toronto, and will compensate shareholders with either a cash payment or stock in the merged REIT. Whiterock shareholders can choose to receive a 20...
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