Monday, October 4, 2010

MI Developments Soars On Takeover Offer

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.

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