RioCan Buys Additional Cedar Stock

Published Friday, February 05, 2010

RioCan REIT, a Canadian owner of shopping centers, has quietly built up a 14.3 percent stake in U.S. shopping center REIT Cedar Shopping Centers Inc.. Most recently, as a result of a recent Cedar public offering of 7.5 million shares of its common stock, RioCan agreed to purchase 1.25 million additional shares to go along with 6,666,666 shares at $6.00 it previously purchased and warrants on an additional 1,428,570 shares at $7.00 per share. In connection with Cedar's previously announced transaction with RioCan, subject to certain exceptions, RioCan contractually has the right to purchase its pro rata interest, ...

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