City Office REIT

Oksenholt Capital has purchased several hundred thousand shares of City Office REIT and opposes the planned merger with affiliates of Elliott Capital. The investor criticizes the merger process as a “fire sale,” calls for a leadership change and proposes cost cuts of $2–7 million, tenant retention programs and the internalization of leasing functions. Oksenholt sees intrinsic value closer to the book value of about $15.00 per share (the stock trades at 0.56x book value) and says it will vote against the takeover. City Office REIT also missed expectations in Q1 2025 with earnings per share of -2.66. » More on de.investing.com

City Office REIT is being acquired by MCME Carell Holdings for $1.1 billion, causing the stock to surge by 24.5%. Shareholders will receive $7.00 per share in cash, representing a 26% premium over the last closing price. After the transaction is completed, City Office REIT will be delisted and converted into a private company. » More on de.investing.com