OMERS to take over property group

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CANADA - OMERS, the C$35.9bn (US$16bn) Ontario Municipal Employees Retirement System is set to purchase Oxford Properties Group in a C$1.5bn (US$968m) deal.

OMERS' all cash offer, which has been accepted by Oxford's management, is set at C$23.75 per share for all of the property groups stock. The pension fund currently has a 17% stake in the firm and e...

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