Land & Buildings Criticizes Aimco’s Proposed Split

Activist shareholder Land & Buildings criticized a proposed split by Apartment Investment and Management Company (Aimco), saying the company’s Tuesday press release “laid bare” that shareholders will incur a tax of as much as $8 per share.Q2 2020 hedge fund letters, conferences and moreAmico Overvaluing Its AssetsAimco wants to keep its development business and assets worth about $1.3 billion, and fold a portfolio of 26,599 apartments worth around $10.4 billion into a real estate investment trust. Land & Buildings says that the two resulting entities are unlikely to trade anywhere near the und…

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HEDGE accordingly