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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.
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