Stronach family makes offer for MI Developments
ST Acquisition Corp, controlled by the family of Canadian billionaire Frank Stronach, has made an offer to buy the remaining shares of Canadian real estate company MI Developments. ST Acquisition Corp is offering $13 per share, worth $607 million overall. MI Developments’ closing share price on Friday was $10.67. ST Acquisition said the deal would be financed through cash-on-hand and third party financing that is currently being arranged.
4 October 2010•1 min read
