OMERS Borealis Infrastructure unit offers $2 billion in cash for Teranet
September 4, 2008
TORONTO — A $2-billion takeover offer from a unit of one of Ontario's largest public-sector pensions caused units of Teranet Income Fund (TSX:TF.UN) to soar Thursday to their highest level since the land registry operator has been on the stock market.
Teranet units closed Thursday at $11.24, up $1.88 or 20 per cent and above the offer of $11 per unit announced earlier in the day by Borealis Infrastructure Management, part of the Ontario Municipal Employees Retirement System.
The previous 52-week high was $10.69. Earlier in Thursday's session, the units traded as high as $11.25 - a record since the units began trading in June 2006.
The units were at $8.98 before media reports of takeover speculation began to circulate in late August.
Friday, September 5, 2008
Posted by Fillibluster at 8:15 AM