Encouraging that SNC are likely taking over MVT. As it is scrip base, this will double SNC's market cap to $85m~.
SNC have been a little sub scale to pursue issues like APW but the extra market power would place them in a much stronger position to resolve the APW discount to NTA and ridiculously poor cash flow for an ungeared REIT.
"Strategic Review of the MacarthurCook Office Property Trust", page-8
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