Purchasers preparing bids for AmREIT

There are several purchasers in the process of preparing bids for AmREIT Inc, the US shopping mall owner.
This could result in a valuation of the company reaching $26 per share, according to the Financial Times.

According to the FT, citing unidentified sources, AmREIT has attracted interest from companies including their rivals Weingarten Realty Investors and Edens, along with Regency Centers Corp, which had presented an unsolicited offer to purchase the company during July.

FT stated that sources are expecting bids by the close of October at prices ranging between $25 and $26 per share.  

The shares of the company closed at $22.02 on Friday, which is close to the July offer made by Regency of $22 per share.  This would result in a valuation of around $433m for the company.

AmREIT hired Jefferies, the investment bank, to look at its options after the Regency offer during July.

Edens did not respond immediately to FTs request for comment, and Weingarten, Regency and AmREIT refused to comment.

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