The Public Sector Pension Investment Board(PSPIB)has completed its offer for Retirement Residences Real Estate Investment Trust.

An additional 4.3% of the total issued and outstanding units were tendered during the extension period of the takeover bid, giving PSPIB approximately 93.7% of the units.

Since more than 90% of the outstanding units have been tendered to the offer, PSPIB intends to use the compulsory acquisition provisions in the REIT’s declaration of trust to acquire the remaining units.

The compulsory acquisition is expected to be completed as soon as reasonably practicable.

To read PSPIB extends offer for Retirement Residences REIT, click here.

For the story, PSPIB to buy Retirement Residences REIT, click here.

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