From The Real Deal · Lilah Burke · · 40s
H&R REIT shareholders reject GO deal
H&R REIT shareholders voted down a major acquisition deal with GO Residential REIT.
In brief
H&R REIT shareholders voted down a major acquisition deal with GO Residential REIT. H&R REIT shareholders rejected a proposed acquisition by GO Residential REIT, which would have split the Canadian real estate firm's portfolio. Originally reported by The Real Deal.
Shareholder vote
H&R REIT shareholders voted down a major deal to break up the Canadian firm's portfolio with GO Residential REIT.
Opposition from pension funds
Major pension funds including British Columbia Investment Management Corp. and New York City comptroller planned to vote against the transaction.
Consequence for H&R
H&R REIT will resume regular distributions and a special distribution to cover paused shareholder payments.
The main idea
H&R REIT shareholders rejected a proposed acquisition by GO Residential REIT, which would have split the Canadian real estate firm's portfolio.
