TORONTO, July 2, 2014 /CNW/ - Orange Capital, LLC ("Orange Capital") has confirmed that the previously announced premium tender (the "Premium Tender") to acquire up to 10% of the outstanding units of Partners REIT at a price of $5.00 per unit expired at 5:00 p.m. (Toronto time) on June 30, 2014 (the "Expiry Time"). At the Expiry Time, the 10% minimum tender condition of the Premium Tender had not been satisfied. Orange Capital is not taking up any units of Partners REIT and all tendered units will be returned to the tendering unitholders in accordance with the terms of the Premium Tender.
Orange Capital refers unitholders to its press release dated June 9, 2014 for important clarifications related to the Premium Tender, and also the Premium Tender offer dated May 28, 2014 that has been mailed to unitholders and is filed on SEDAR at www.sedar.com.
ABOUT ORANGE CAPITAL
Orange Capital is a New York based investment firm. The firm is a value-oriented investor in event-driven securities. Orange Capital was co-founded in 2005 by Daniel Lewis and Russell Hoffman. Prior to founding the firm, Orange Capital's portfolio manager, Daniel Lewis, was a director with Citigroup's Global Special Situations Group.
SOURCE Orange Capital, LLC