LMRK - Landmark Infrastructure gains after getting new offer in 3-way bidding war
Landmark Infrastructure Partners (NASDAQ:LMRK) rose 13% after Melody Investment Advisors submitted a $16.25/share offer for the company, above two rival bids. Melody Investment's bid is above a rival $13.50 offer from Verde Investments, which trumped an original deal that Landmark agreed to with DigitalBridge's (NYSE:DBRG) at $13/share. The Melody Investment offer represents a 25% premium to the original $13 deal and a 20% premium to the rival Verde bid. "Our proposal is financially significantly superior to both the Colony and Verde publicly disclosed proposals, neither of which we believe fully value the Company's assets," Melody Investments said in a letter to Landmark's boards conflicts committee. Melody said that it expects it will be able to due an expedited due diligence review once its get access to Landmark's books and it may be able to increase its offer and can get a deal agreement signed in 30 days. "We have ample committed and available capital to
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Landmark Infrastructure gains after getting new offer in 3-way bidding war