The Corio Buyout By Klepierre Seems To Be A Win-Win Situation For All Parties Involved
- Klepierre made an all-stock offer to acquire competitor Corio.
- The combination of companies makes sense, given the potential synergies and additional diversification.
- However, Corio shareholders should take a riskier balance sheet and potential tax issues into account.
- As it's an all-share offer, arbitrage will be possible and at this moment Corio is trading at a 1.2% discount to the Klepierre offer.
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Tue, Jul. 29, 6:56 AM
- French real-estate group Klepierre (OTC:KLPEF) is closing in on a deal to acquire Dutch rival Corio (OTC:CRIOF) for €7.2B ($9.7B), which would create an industry leader with €21B in assets.
- The boards of both companies as well as their main shareholders (Simon Property Group (NYSE:SPG) and BNP Paribas (OTC:BNPZY)) back the deal, the companies said in a joint statement.
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