The below text is licensed to Covestor Ltd. (“Covestor”), by Dan Plettner. Such text may be disseminated only by Covestor. Dan Plettner invests and receives income for securities research, including “buy-side” research. Dan licenses his own real time trading data to Covestor Ltd. (“Covestor”). Covestor is a Registered Investment Advisor that uses Dan Plettner’s data to create the Core, Long Short Opportunistic, Tax Advantaged Income, and Taxable Income models for its clients. Dan’s words should not be misconstrued as investment advice.
Dan Plettner owns SLS in his Covestor Taxable Income model.
August 16, 2010: On August 11, RiverSource LaSalle International Real Estate Fund (SLS) announced that its Board of Directors approved, in principle, the acquisition of SLS by Open-End Columbia Real Estate Equity Fund (CREEX, CREAX, CREBX, CRECX), sharing the same advisor. The Acquisition was also approved by the Open-End Fund’s board of trustees. The merger is subject to a vote by SLS shareholders, and would take place at Net Asset Value (“NAV”), subject to a redemption fee of 2% for a period of one year following the closing date of the Acquisition. The announcement was made after the market’s close. The $7.89 closing price of SLS shares on August 11 represented a 12.62% discount to the same evening’s reported $9.03 NAV. As of the Close of business on August 13th, an $8.53 market price represented a 5.12% discount to the $8.99 reported NAV.
