Menu
POTENTIAL DEAL DETAILS
| Stock | Whitestone REIT | Symbol | WSR |
| Date Announced | 06/03/2024 | Source | Press Release |
| Type | Unsolicited Bid | Acquiring Company/Person | MCB Real Estate |
MCB Real Estate in a letter to Whitestone REIT (WSR) CEO David Holeman offered to buy the company for $14 per share in cash.
Whitestone REIT Investor Relations
MCB Real Estate Investor Relations
Update(s)
June 10, 2024: Whitestone REIT (WSR) rejected a takeover bid from MCB Real Estate. “The Board believes that the indicated offer price does not represent a fair valuation,” said CEO David Holeman in a letter to MCB Real Estate’s Managing Partner P. David Bramble.
October 9, 2024: MCB Real Estate has sweetened its offer to acquire U.S. shopping center operator Whitestone REIT (WSR) to $1.45 billion including debt. The new offer from MCB would give shareholders of Whitestone $15 per share in cash.
October 31, 2024: Whitestone’s (WSR) board rejected MCB Real Estate’s sweetened offer to acquire the company for $15 per share in cash or $1.45 billion including debt. The board indicated that the offer undervalues the company and it does not want to enter talks for a negotiated transaction.
November 18, 2024: MCB Real Estate announced that it is withdrawing its proposal to acquire Whitestone REIT (WSR).
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.