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Announced Nov 6, 2006
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$173,000,000 |
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Announced
Dec 4, 2006
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$919,000,000 |
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Announced
Dec 20, 2006
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$926,000,000 |
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Announced Jan 15, 2007 Acquired Sunrise Senior Living REIT Ticker SZR.UN Buyer Ventas, Inc. (NYSE: VTR)* Value (millions) 2,280 Buyer Info US based REIT |
$2,280,000,000
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Announced
Feb 1, 2007
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$210,000,000 |
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Announced
Feb 4, 2007
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$786,000,000
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Announced
Feb 9, 2007
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$87,000,000 | |
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Announced
Feb 14, 2007
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$177,000,000 |
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Announced
Feb 16, 2007
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$129,000,000 | |
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Announced
Feb 26, 2007
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$419,000,000 |
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Announced
Mar 18, 2007
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$43,000,000 |
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Announced
Apr 1, 2007.
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$804,000,000 |
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Announced
Apr 3, 2007
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$886,000,000 | |
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Announced
Apr 10, 2007
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$158,000,000 |
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Announced
Apr 16, 2007
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$109,000,000 |
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Announced
Apr 16, 2007
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$1,740,000,000 |
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Announced
Apr 24, 2007
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$406,000,000 |
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Announced
May 4, 2007
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$252,000,000 |
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Announced May 25, 2007 Acquired VersaCold Income Trust Ticker ICE.UN Buyer Eimskip Holdings Inc. Value (millions) 525 Buyer Info HF Eimskipafelag Islands
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$525,000,000 |
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Announced
June 1, 2007 Ticker QSP.UN Buyer Quebecor Inc Value (millions) 517 Buyer Info
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$517,000,000 |
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Announced
June 14, 2007
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$237,000,000 |
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Announced July 2007 Acquired Stephen Rental Services Income Trust Ticker RNT.UN Buyer Edgestone Capital Partners Value (millions) 67 Buyer Info Edgestone Capital Partners was later acquired by GMP capital
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$67,000,000 |
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Announced July 11, 2007 Acquired ShinningBank Income Trust Ticker SHN.UN Buyer PrimeWest Energy Income Trust Value (millions) 1,250 Stock Swap $???? Buyer Info merger of assets and tax pools
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Announced July 13, 2007 Acquired Legacy Hotel Income Trust Ticker LGY.UN Buyer Caisse de dépôt et placement Value (millions) 2,500 Buyer Info Quebec's big public fund manager
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$2,500,000,000 |
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Announced July 24, 2007 Acquired Arriscraft International Income Fund Ticker AIN.UN Buyer General Shale & Brick Inc Value (millions) 110 Buyer Info General Shale is wholly-owned subsidiary of Wienerberger AG, the largest brick company in the world.
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$110,000,000 | |
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Announced
Aug 2, 2007
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$1,200,000,000 |
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Announced Aug 4, 2007 Acquired Movie Distributions Income Trusts Ticker FLM.UN Buyer Edgestone Capital Partners LP Value (millions) 193 Buyer Info Edgestone Capital Partners LP and GS Capital Partners
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$193,000,000 |
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Announced
Aug 13, 2007 Buyer Info Ontario Municipal Employees Retirement System.
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$240,000,000 |
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Announced Sept 4, 2007 Acquired Spinrite Income Trust Ticker SNF.UN Buyer Sentinel Capital Partners, Value (millions) 92 Buyer Info Sentinel Capital Partners, originally marketed Spinrite as an Income Trust
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$92,000,000 |
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Announced Sept 5, 2007
Acquired Canadian Crude Seperators
Ticker CCR.UN
Buyer CEO David Werklund and partners
Value (millions) 3,500
Buyer Info CAI Capital Partners, Goldman Sachs Capital Partners,
Kelso and Company, Vestar Capital Partners, British Columbia Investment Management Corp., Alberta Investment Management, O.S.S.Capital Management L.P |
$3,500,000,000 | |
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Announced
Sept 10, 2007
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$257,000,000 |
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Announced Sept 10,2007 Acquired ED Smith Income Trust Ticker JAM.UN Buyer TreeHouse Foods Inc Value (millions) 217 Buyer Info Treehouse Foods American pickle and condiment company
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$217,000,000 |
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Announced Sept 18, 2007 * Acquired Gienow Windows & Doors Income Trust Ticker GIF.UN Buyer H.I.G. Capital LLC Value (millions) 183 Buyer Info H.I.G Capital LLC of Miami
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$183,000,000 |
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Announced Sept 19, 2007 * Acquired Oceanex Income Trust Ticker OAX.UN Buyer South Coast Partners Value (millions) 165 Buyer Info consortium including Sidney Hynes, OP Trust Private Markets Group and Terrma Capital Corp
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$165,000,000 |
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Announced Sept 19, 2007 Acquired Bonnetts Energy Services Trust Ticker BT.UN Buyer Converting to a Corporation Value (millions)65.8 *(1) Buyer Info Converting to a corporation to make use of tax pools and make access to capital easier prior to Nov.1st 06 market cap was approx 220 million
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$65,800,000 | |
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Announced Sept 24, 2007 Acquired Prime West Energy Trust Ticker PWI.UN Buyer TAQA North Value (millions) 5,000 Buyer TAQA is a wholly-owned subsidiary of Abu Dhabi National Energy Company of Saudi Arabia
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$5,000,000,000 |
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Announced Sept 25, 2007 Acquire Vault Energy Trust Ticker VNG.UN Buyer Penn West Energy trust PWT.UN Value (millions) 380 Stock Swap Buyer Info Penn West is a Canadian Income Trust the deal includes production assets and considerable Tax pools
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Announced Oct 15 ,2007 Acquire TransAlta Power Ticker TPW.UN Buyer Cheung Kong Infrastructure Holdings Limited Value (millions) 629 Buyer Info Cheung Kong Infrastructure Holdings Limited , Hong Kong based listed company, has also purchased other Canadian energy assets |
$629,000,000 | |
| Total $26,696,800,000 |
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$26.067 Billion dollars of buyouts. Using industry average figures this represents a loss in distributions paid to investors of $2.14-2.54 billion a year and a loss in tax revenue to the government of $800-973 million dollars a year. So far we have permanently lost 15.8% of the Income trust industry in less than a year, this trend will likely accelerate as the industry adapts to the new tax, as a matter of survival expect the rest of the industry to adopt similar strategies resulting in a loss of tax revenue of $5-6 billion a year. Jim Flaherty was warned of this possibility by department of finance officials prior to introducing the tax and by numerous experts since, he has chosen to ignore these warnings, Canadians will get to pay for his folly. "The irony here is that if they thought a new 31.5 percent tax on income trusts and ending interest deductibility was going to help them fund their GST reduction, the plan has backfired. Once these companies are bought out by large American firms and private equity groups, they will leverage their debt and pay no taxes at all." John McCallum. Liberal finance critic
http://www.liberal.ca/story_12657_e.aspx * Subject to shareholder approval *(1) Market Cap. when announced
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