H&R Real Estate Investment Trust said its planned $6.7-billion sale to GO Residential and other buyers will not proceed after unitholders voted against the transaction.
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H&R Real Estate Investment Trust is calling off its deal with GO Residential Real Estate Investment Trust and a consortium of other buyers after its unitholders voted against the transaction.
The trust had announced in August that it would sell all of its assets in a $6.7-billion deal.
H&R said Friday the transaction will not go ahead as a result of the unitholder vote, and that it will remain a publicly traded real estate investment trust with units continuing to trade on the Toronto Stock Exchange.
The deal faced opposition from several unitholders, including Mill Pond Capital, according to the trust.
H&R’s portfolio includes residential, industrial and office properties in Canada and the United States.
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