Slate Grocery REIT Forms Committee to Review Strategic Alternatives
Slate Grocery REIT (SGR-UN.TO) has formed a special committee of independent trustees to respond to an unsolicited proposal from its external manager Slate Asset Management, the REIT said on Friday.The committee, which has a broad mandate to consider and evaluate a range of strategic alternatives, has decided to initiate a formal process to solicit proposals from third parties."The Committee recognizes that the value of the underlying portfolio may not be fully reflected in the public markets, and as such, we are evaluating various alternatives ranging from initiatives under the status quo, to a whole company sale," said Marc Rouleau, committee chair.Slate Grocery REIT units closed up $0.19, to $15.90 on Thursday on the Toronto Stock Exchange.
