Emira springs surprise with mandatory offer
Instead of consolidation, expect Reits to fix their own problems
Last Friday’s announcement by diversified property group Emira that its largest shareholder, I Group, would make a mandatory offer to its other shareholders, having breached 35% ownership, came as a surprise to the market as no M&As were expected in 2021.
This is because a number of property companies are recovering after the annus horribilis of 2020. ..