Huntingdon Real Estate Investment Trust said yesterday it has reached a merger agreement with IAT Air Cargo Facilities Income Fund, a company which owns and leases aviation-related buildings. The two companies said the all-stock merger has an approximate value of $370-million. The deal will see IAT stockholders receive 11.75 Huntingdon units for each unit they hold. Current IAT unitholders will have a 53-per-cent stake in the merged company, which will operate 88 properties across Canada and be led by current IAT president Zachary George. HNT.UN (TSX) rose 2.5 cents to 42 cents. ACF.UN (TSX) rose 95 cents to $4.75.
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