First Capital delays start of bid for Sterling Centrecorp convertibles, shares to May 15

New York, May 8 - First Capital Realty Inc. said it plans to start its take-over bid for the common shares and 8.5% convertible unsecured subordinated debentures of Sterling Centercorp Inc. on May 15.

Originally the offer had been planned to start on May 9, but the Ontario Securities Commission has postponed to May 17 a hearing originally scheduled for May 11 to consider whether SCI Acquisition and the parties to support agreements for the proposed plan of arrangement are "joint actors" for the purposes of Ontario securities laws.

Toronto-based First Capital owns and develops supermarket-anchored community shopping centers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.