Overview

• Under the proposal, CLV Group and Singapore’s sovereign wealth fund GIC will pay $13.55 per unit in cash, valuing the deal at about $4 billion including debt.
• InterRent’s board has launched a 40-day go-shop period through July 6 to solicit potentially superior takeover offers.
• Completion hinges on a two-thirds majority vote by unitholders and a separate majority of votes excluding CLV Group and its affiliates.
• Activist investor Anson Funds, which holds a 9% stake, welcomed the premium offer but indicated potential for higher bids during the go-shop.
• The transaction carries break fees of $49 million during the go-shop and $79 million afterward and is slated to close by early 2026.