Last December, Frasers Logistics and Industrial Trust (FLT) and Frasers Commercial Trust (FCOT) proposed a merger between the two into one enlarged REIT.
FLT will acquire all units of FCOT for about S$1.54 billion via a combination of cash and new units.
FCOT unitholders will receive S$0.151 in cash and 1.233 new units in FLT at an issue price of S$1.24 per unit.
This means that for every 1,000 FCOT shares, FCOT unitholders receive $151 in cash and 1,233 of FLT units.