Q: Hello 5i team,
Yahoo Business mentioned that TCN tentatively may go private at $11.25 US (~15.17 CAD). You recommended to sell half now.
Is there any regulatory hurdles that may stop this transaction with all the housing problems in both countries? Since TCN is the only REIT in the balanced portfolio, do you have your eye on any other equities?
Andrew
Yahoo Business mentioned that TCN tentatively may go private at $11.25 US (~15.17 CAD). You recommended to sell half now.
Is there any regulatory hurdles that may stop this transaction with all the housing problems in both countries? Since TCN is the only REIT in the balanced portfolio, do you have your eye on any other equities?
Andrew
5i Research Answer:
Various government agencies and the competition bureau will need to approve the deal, in addition to shareholders. While we do not expect issues here, no deal is done until the cash is received. TCN's operations are US based, and in the housing sector it is a relatively small player. We are working on a replacement. For now we think DIR.UN looks good.