Do you know when this closes and with it trading roughly .20 cents below offer,if you do nothing do you get the premium on that day or the closing price,it seems like a very average at best price…your thoughts on how a share holder could play this as it comes to a close ..much thanks
The initial announcement was May 27, so assuming the 'go shop' was signed then, then it has passed the 40 days now and the company announced this July 7. Now, the offering circular can be prepared and given to shareholders and a vote date set. But this will still take time, and the only 'official' closing date announcement is 'by June 30, 2026'. So it may still be some time, but distributions are continuing to be paid. It was not a great takeover premium, but units are up 31% YTD and it is an all-cash deal. The odds of another party coming in are not zero, but very low now. Nine parties looked at the company. With a distribution yield of 2.97% and 1.5% left on the takeover price, this is still a 4%+ return even if one year to close. So, decent and low risk. But with the market doing well and lots of other opportunities, we would still be OK exiting this now.