kimco realty to buy shares in valad

I just hope the issue price is at or above current SP. That would give good support IMO. Will find out in less than 2 hours none-the-less:


Kimco Realty to Buy Shares in Valad Property, Review Says

By Stuart Kelly

Feb. 5 (Bloomberg) -- Kimco Realty Corp., a U.S. real estate investment trust, may invest A$200 million ($182 million) in Australia's Valad Property Group and market its products worldwide, the Australian Financial Review said.

Kimco may today say it bought shares in Sydney-based Valad to lessen investor concerns about debt and help Valad fund its loans, the newspaper said, citing a note to clients yesterday by Goldman Sachs JBWere Pty.

Valad, which manages A$20 billion in property assets, yesterday halted trading in its shares and said it will announce a proposal for an alliance with another company.