Blackwells Offers to Acquire Monmouth Real Estate Investment Corporation (MNR)

  • December 21, 2020

POTENTIAL DEAL DETAILS

StockMonmouth Real Estate Investment CorporationSymbolMNR
Date Announced12/21/2020Source Press Release
TypeUnsolicited BidAcquiring Company/Person Industrial Logistics Properties Trust
Date of Confirmation: 11/05/2021Price at Confirmation: $18.86
Potential Profit: 7.10%Annualized Profit: 8.12%

Blackwells Capital LLC, an alternative investment management firm that is one of the largest owners of Monmouth Real Estate Investment Corporation (MNR), announced today that on December 18, 2020, it submitted an offer letter to the Company’s Board of Directors outlining an all-cash offer to acquire Monmouth for $18.00 per share.

Update(s):

January 14, 2021: Monmouth Real Estate Investment Corporation (MNR) today announced that its Board of Directors, working together with its legal and financial advisors, has unanimously decided to explore strategic alternatives to maximize stockholder value.

July 13, 2021: Monmouth Real Estate Investment Corp (MNR) received an unsolicited takeover bid from U.S. investment firm Starwood Capital Group, Bloomberg News reported, citing people familiar with the matter.

August 17, 2021: Blackwells Capital has come out against the sweetened terms of a proposed takeover of Monmouth Real Estate Investment Corp. by Sam Zell’s Equity Commonwealth.

August 18, 2021: Starwood Increases Offer to Acquire Monmouth Real Estate Investment Corp. (MNR) to Net Consideration of $19.20 Per Share in Cash

August 31, 2021: Monmouth Real Estate Investment Corporation (MNR) announced that, based on a preliminary count of the votes cast at the Company’s Special Meeting of Stockholders, Monmouth did not obtain the necessary stockholder votes to approve the previously announced merger with Equity Commonwealth (EQC). Monmouth remains open to all available options to maximize long-term stockholder value and realize the full potential of the Company’s high quality industrial portfolio.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.