Regulators say bid for Cambridge 'coercive'

Article Abstract:

Cambridge Shopping Centres Ltd was viewed to have the right to uphold its poison pill against the Caisse de depot et placement du Quebec as securities regulators believe that the latter's takeover bid was coercive. The Caisse, which holds 43% of Cambridge's common shares outstanding, offered to purchase 25 million shares at C$13.25 each. The Ontario and Quebec securities regulators said that the offer pressures minority shareholders to dispose of their shares of stock, which would have little liquidity.

Asset sales & divestitures, All Other Miscellaneous Store Retailers, Stores in Shopping Centers

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Cambridge eyes acquiring Laing Property's mall portfolio

Article Abstract:

Cambridge Shopping Centres Ltd is looking to acquire the eight Canadian shopping centers owned by Laing Property Corp, which has been put up for sale in May 1999 by its British parent, Peninsular and Oriental Steam Navigation Co. Three or four other companies are looking to acquire Laing, including Gentra Inc and Cadillac Fairview Corp. The planned acquisition of the Laing mall portfolio is part of an effort by Cambridge to make a major acquisition either in Canada or the US.

Land Subdivision and Land Development, Shopping Center Developers

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