ESR-REIT's UE BizHub EAST. (Photo: REITsWeek)ESR-REIT's UE BizHub EAST. (Photo: REITsWeek)

Glass Lewis and Institutional Shareholder Services (ISS) have revised their opinions on the proposed merger between ARA LOGOS Trust (ALOG) and ESR-REIT.

The proxy advisory firms are now recommending unitholders to vote for the merger, given the “compelling business rationale” in the revised offer presented by both REITs.

The merger aims to establish a ‘new economy REIT’ known as ESR-LOGOS REIT.

Related: New ESR-LOGOS REIT to focus on 3 asset types across Asia-Pacific in ‘new economy’

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.