Canadian REIT H&R Offers $4.6B For Primaris

Law360, New York (January 17, 2013, 7:43 PM EST) -- H&R Real Estate Investment Trust and Primaris Retail Real Estate Investment Trust have reached a tentative agreement under which H&R would acquire Primaris in a CA$4.5 billion (US$4.6 billion) transaction that would make it the largest REIT in Canada, the companies said Wednesday. 

The proposed cash and equity deal values Primaris approximately CA$2.76 billion ($2.79 billion) which, taking Primaris' CA$1.72 billion debt into account, puts the total transaction value at about CA$4.5 billion, Peter Block, a spokesman for the companies, told Law360. H&R and Primaris are...
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