HALISTER1: DBRS: Canadian Real Estate Q1 2016

DBRS: Canadian Real Estate Q1 2016

Alert: HALISTER1
Source: DBR (Dominion Bond Rating Service)

Tickers
REI-U CN (RioCan Real Estate Investment Trust)
AP-U CN (Allied Properties Real Estate Investment Trust)
AX-U CN (Artis Real Estate Investment Trust)
BPY-U CN (Brookfield Property Partners LP)
REF-U CN (Canadian Real Estate Investment Trust)

People
Brenda Lum (DBRS Ltd)
Crillen Zhao (DBRS Ltd)
Mark Newman (DBRS Ltd)
Naveed Sunderji (DBRS Inc)

Topics
Fixed Income Research
Reports
Credit Analysis Research
Credit Research
Investment Research

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283

HALISTER: Hershey Unaminously Rejects Indication of Interest From Mondelez

Hershey Unaminously Rejects Indication of Interest From Mondelez

(Bloomberg) -- Hershey confirms it received preliminary, non-binding indication of interest from Mondelēz to acquire co. for mix of cash, stock consideration, totaling $107/share of HSY stock.
  • Indication of interest also included other non-monetary considerations
  • Board determined that it provided no basis for further discussion between MDLZ/co.
  • HSY halted; had been up as much as 21% to record high; MDLZ pares gain, up 3.7%
  • NOTE: Hershey trust owns 100% of Class B shares which hold 10 voting rights per share: Bloomberg data
  • NOTE: Earlier, Mondelez Said to Bid $107/Shr for Hershey, CNBC’s David Faber
    • Hershey Value Said to be Reduced by $3b Without KitKat: WSJ
    • Packaged Food Index Rises to Record Amid Hershey M&A Talk
  • NOTE: May 2, Penn. Office of AG is seeking resignation of 3 long-standing board members of Milton Hershey School Trust by July 31, according to letter obtained by The Philadelphia Inquirer
    • AG’s office, which has perviously investigated the trust, still has concerns about how trust is being managed, article said
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
HSY US (Hershey Co/The)
MDLZ US (Mondelez International Inc)

People
Milton Hershey (Hershey Co/The)
David Faber (CNBC Inc)

To de-activate this alert, click here

UUID: 7947283