The Globe and Mail reports in its Tuesday edition that Slate Grocery REIT, a Canadian-listed company that owns grocery-anchored retail centres in the United States, capped a volatile bout of trading with news of its acquisition by two American buyers. The Globe's Tim Kiladze writes that on Monday, Slate announced its sale to Brixmor Property Group and Everview Partners. Together, the buyers are paying $13 in cash per unit, amounting to an equity value close to $800-million (all figures U.S.). The sale itself wasn't necessarily a surprise, because Slate launched a strategic review in May. However, the timing caught investors and analysts off guard. Five days before the sale news, on Sept. 23, the REIT announced it would stop paying its distribution. In a statement, Slate Grocery said an independent board committee approved the decision, and that the REIT was making the change to enhance its "financial and strategic flexibility." Over the next two days, Slate Grocery's units slumped 30 per cent, closing on Friday at $7.56. Monday morning, the REIT announced it was being acquired for $13 per unit in cash. Investors who sold their units on Thursday and Friday as the price plummeted missed out on the big gain.