The end of Temple Hotels | Value Investing News

The end of Temple Hotels

  • Temple has been the target of a slow motion takeover which, in 2015, was effectively finalized by Morguard by the assumption of its asset management agreement, and repurchase of debt securities.
  • After, they proceeded to raise capital through rights offerings which resulted in Morguard accumulating a 73% stake in the company.
  • An entity associated with Clarke’s (TSX: CKI) Armoyan, owns 17% of Temple and agreed to be bought out by this price.
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