ESR REIT original takeover offer for ARA LOGOS Trust has been coldly received by the shareholders of ARA LOGOS, and after proxy advisory services recommended voting against it, the trust is raising its bid:

The scheme consideration for the proposed merger of Ara Logos Logistics Trust and ESR-Reit has been raised to S$0.097 in cash and 1.7729 in ESR-Reit units for every ALog unit, from S$0.095 in cash and 1.6765 in ESR-Reit units previously.

The higher offer works out to a 2.1 and 5.7 per cent rise respectively for the cash and unit portions.