I vaguely wrote about the possibility of an acquisition of Croesus Retail Trust by Cyrus Bidco Pte. Ltd. (managed by Blackstone Group) few months back here. What I did not elaborate on was my opinion regarding this acquisition.
I had Croesus Retail Trust in my portfolio since Year 2014, and it has given me generous returns year on year. I do acknowledge that with this acquisition, it would be sad that my portfolio would lose a good dividend stock, but at the same time, you can say that the next 2-3 years of dividends have been paid to us in advance. The proposed offer of S$1.17 per unit is slightly more than 20% of the market price back in April, which, to my opinion is quite a generous offer in relation to its NAV.
The scheme meeting will be held on 13 September 2017. Personally, I would love to attend this meeting; seeing it would be my first experience, but like most people, I hold a full-time job and my position for this counter isn't significant enough to justify the time off work.
I am looking forward to know the outcome of this meeting. Whatever the outcome, I am satisfied with either. Perhaps it is time to look out for the next stock I can redeploy my capital gains to.