TORONTO – Real estate investment firm Plaza Retail REIT says it has formed a special committee to consider an unsolicited $1.23 billion takeover offer.
The offer comes from Axia Real Assets LP, a Toronto-based firm focused on investments in grocery-anchored real estate and industrial properties.
Axia wants to pay $5.28 per unit, which amounts to an almost 21 per cent premium on the 90-day volume-weighted average price of Plaza Retail’s units.
Plaza says its special committee will carefully consider the proposal and other strategic alternatives in hopes of determining what move is in the best interest of unitholders.
It warns that it cannot guarantee the committee’s review will even result in a transaction.
Axia has been trying to buy Plaza since 2024 and previously made a $4.70 per unit offer.
This report by The Canadian Press was first published July 7, 2026.
Companies in this story: (TSX:PLZ.UN)
