PAG returns with hostile offer for HK-Listed Reit

The fund manager's unsolicited offer dangles a 62% premium in front of unit holders. Its latest attempt to unseat the management of Spring Reit looks like it could succeed.

PAG returns with hostile offer for HK-Listed Reit

Fund manager PAG Real Estate has made a cash offer of HK$4.85 for each unit of Spring Real-Estate Investment Trust, the first ever voluntary general takeover offer for a Hong Kong-listed Reit.

PAG Real Estate, part of Asian alternative investment management firm PAG, said the offer had not been negotiated with Spring Reit's manager or its board.

The offer, representing a 61.7% premium over the closing price of HK$3...

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