Fairmont Hotels & Resorts
formerly Toronto symbol FHR, owns or operates luxury hotels and resorts with in North America, Barbados and the United Arab Emirates. It also owns Delta Hotels, a chain of business class hotels. The company went private in 2006.
LEGACY HOTELS REIT $8.15 (Toronto symbol LGY.UN; SI Rating: Extra Risk) owns 24 luxury hotels with over 10,700 guestrooms in Canada and the United States, including The Fairmont Royal York in Toronto and the Fairmont Le Château Frontenac in Quebec City. Fairmont Hotels & Resorts Inc. owns 23.7% of Legacy, and manages all of its hotels.
In the three months ended …read more »
DOFASCO INC. $71 (Toronto symbol DFS; SI Rating: Average) has accepted a $71.00-a-share takeover offer from Arcelor SA after rival bidder ThyssenKrupp AG decided not to match Arcelor’s offer. However, UK-based Mittal Steel Co. has launched a hostile takeover for Arcelor. Mittal’s bid for Arcelor is unlikely to affect Arcelor’s plan to buy Dofasco.
Dofasco shareholders should tender their shares to …read more »
FAIRMONT HOTELS & RESORTS INC. $50.06 (Toronto symbol FHR; SI Rating: Average) has accepted a $45.00 U.S. a share takeover offer from a private group that includes a U.S.-based hotel operator and a Saudi prince. The new offer tops a $40.00 U.S. a share bid for 51% of Fairmont from American billionaire Carl Icahn. However, Icahn has also agreed to …read more »
FAIRMONT HOTELS & RESORTS INC. $49 (Toronto symbol FHR; SI Rating: Average) has rejected an offer from American billionaire investor Carl Icahn to buy 51% of the company’s common stock at $40.00 U.S. a share. Mr. Icahn, who owns 9.3% of Fairmont, may offer to buy all of it at a higher price if the company gives him access to …read more »
LEGACY HOTELS REAL ESTATE TRUST $8.05 (Toronto symbol LGY.UN; SI Rating: Extra risk) owns 24 luxury hotels with over 10,000 guestrooms in Canada and the United States, including The Fairmont Royal York in Toronto and the Fairmont Le Château Frontenac in Quebec City. Fairmont Hotels & Resorts Inc. (see box) owns roughly 24% of Legacy, and manages all of Legacy’s …read more »
We advise you to use caution when investing in income trusts, and to limit your trust investments to no more than one-sixth of your total portfolio.
Many income trusts, particularly those that have been assembled and sold to the public as new issues in the past few years, come with hidden risks that can eventually hurt their profits and force them …read more »
