TSX Top Traders: (TOG), (PMZ-UN), (HR-UN), (ELR)
Visit: H&R Real Estate Investment Trust
New York, New York - January 17, 2013 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on the top traders on the TSX for January 17th, 2013.
Torc Oil and Gas Ltd., (TSX:TOG) trading at $2.430 gained $0.020 or 0.83% on a volume of 6,063,476 shares.
Primaris Retail Real Estate Investment Trust (TSX:PMZ-UN) trading at $26.690 moved up $0.180 or 0.68% on a volume of 4,532,922 shares.
H&R Real Estate Investment Trust (TSX:HR-UN) trading at $23.300 dropped $-0.490 or -2.06% on a volume of 2,391,358 shares.
H&R Real Estate Investment Trust (HR-U) said earlier today that it trumped a hostile bid for Primaris Retail Real Estate Investment Trust (PMZ-U) with a friendly deal that would create the largest REIT in Canada based on enterprise value. H&R offered roughly C$27.33 in cash and stock for Primaris, the Canadian shopping mall owner that was the target of an unsolicited C$26 cash offer last month from an investor group led by KingSett Capital Inc.
This offer is worth about C$2.68 billion ($2.72 billion) based on H&R’s share price, or about C$4.2 billion including debt, according to data compiled by Bloomberg. The proposed takeover will aslo be the largest ever for a Canadian REIT, according to Bloomberg data, with Primaris owning 33 properties in 26 markets, including the Burlington Mall, Oakville Place and Place d’Orleans in Ontario. A vote for the proposed deal is schedule for March where it will need approval from two-thirds of Primaris shareholders and at least 50.1 percent from H&R holders for approval.
Eastern Platinum Limited (TSX:ELR) trading at $0.230 lowered by $-0.015 or -6.12% on a volume of 2,012,426 shares.
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