Ever since the announcement by Lendlease Global Commercial REIT ("LREIT") on 14 February 2022 (Valentine's Day coincident release?) that it will be acquiring the remaining stakes in JEM, its unit price has taken a wallop. No, this is not just the impact of the Ukrainian Russo war or global interest rate hikes, but some investors seems to be upset at certain aspects of the deal such as the upcoming issuance of so many new units which reduces the NAV of LREIT to a mere S$0.80 per unit. For most companies, if they announced a mega deal, prices theoretically should go up but LREIT went all the way down from its S$0.90 per unit at beginning of the year till it hits an all time FY2022 low of S$0.795 per unit on 8th March 2022 a day after the EGM. So what exactly happened to LREIT? A mega-deal now became its Achilles heel and curse?...