ESR-REIT makes 5.3% higher offer for ARA LOGOS

The increase represented increased considerations of 2.1% in cash and 5.8% in shares.

ARA LOGOS (ALOG) announced the amendment and restatement of the merger with ESR-REIT on 22 January.

The revised scheme consideration by ESR-REIT represents an increase of 2.1% in cash consideration and 5.8% in consideration units for ALOG unitholders. Based on ESR-REIT's 1-month volume-weighted average price, the illustrative value of the Revised Scheme Consideration is $0.9332, which represents an increase of 5.3% when compared to the original scheme consideration on a like-for-like basis.

ARA LOGOS Logistics Trust CEO Karen Lee said, "The merits of the merger remain intact and compelling. The revised offer reflects ESR-REIT's confidence in merging with ALOG to create a leading New Economy APAC S-REIT with a trajectory to supercharge growth. With this revised offer, the attractiveness of the proposal is further enhanced. We continue to believe that the merger is beneficial for the growth of both ALOG and ESR-REIT moving forward, especially with the completion of the acquisition of ARA Asset Management, which includes our Sponsor LOGOS Group by ESR Cayman Limited."

Given the amended and restated agreement and the revised scheme consideration, the ALOG Manager will be deferring the EGM and Scheme Meeting on 27 January to a future date to be determined and will be announced in due course.