RE:RE:MRC Sold Hotels for above $400 Million Considering that the Armoyan's now own in excess of 7 Million shares. MRC and its affiliates own in excess of 53 Million shares. There are around 3 Million shares available. And almost every day we see an eventful volume being sold and purchased.
I've been holding MRT. UN for about 15 years and enjoyed the distribution of .08c a share for years.
I was just up in Prince George and walked through the Pine Centre Mall with the Save on Foods. Every store was open, there was no vacancies. And the mall was really busy. I was also over in Airdrie and went through that mall. It was also packed. I drove downtown Calgary, and the towers were busy with only a couple offices available which is common.
So, after 2 years at $5.25 + -, and a dividend of .02c.
the value is there for a $15 buyout, considering the average cost for the MRC shares of MRT is roughly $15.
the overall cost would be $150 M. But!!! There are still institution shareholders have to be honored and can't be taken for granted with a buyout of $5.+. With a low ball offer, these institutions would definitely take a serious look at any investment they had with the MRC umbrella.