Mapletree Commercial Trust (MCT) has plans to update its $3.1 billion offer to take over Mapletree North Asia Commercial Trust (MNACT), totaling $1.66 billion.
MCT made its original offer in December.
The decision to include the cash-only consideration came after a request from the MNACT manager in light of the prevailing market conditions and feedback from MNACT unitholders. The cash-only consideration is advantageous to MNACT unitholders as it provides greater flexibility
in terms of the form of the scheme consideration receivable in respect of the merger.
It also safeguards the interests of MCT Unitholders as the pro-forma financial effects of the Merger remain unchanged from the original terms of the trust scheme, according to the release.
“The a
