MI Developments Inc. (NYSE: MIM) surged more than 33% after the company announced that it has been advised by ST Acquisition Corp., a corporation controlled by members of the Stronach Family, that it intends to acquire any or all of the outstanding Class A Subordinate Voting Shares and Class B Shares of MID that it does not already own at a price of US$13.00 per share in cash.
Full Disclosure: None.
