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Opinions Dennis Mitchell, CFA
Alexis Nihon REITAN.UN.TODON'T BUYJan 19, 2007
Possibly being acquired by Cominar Real Estate (CUF.UN-T) and offered $17 a unit. Doubts if this will be increased. Not sure if there's much more upside here.
Dennis Mitchell, CFAOwned
$18.75
Stock price when the opinion was issued
property mngmntinvestment
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COMMENT
Possibly being acquired by Cominar Real Estate (CUF.UN-T). Not comfortable with the leverage levels and that they were over distributing from fee cash flows. Also has some assets that really need to be worked out because of higher than usual vacancies. Doesn’t expect a competitive bid.
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HOLD
Subject to a takeover bid by Cominar (CUF.UN-T), which is very positive for them. Good geographic fit. Unlikely another bid will come in. If you own, take the stock.
Michele RobitailleOwned
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