Scottish Widows' battle for control of property trust over

Scottish Widows Unit Funds has postponed next week's EGM to discuss the future of the UK Balanced Pro...

Scottish Widows Unit Funds has postponed next week’s EGM to discuss the future of the UK Balanced Property Trust. SWUF said it is happy with the current trust board’s proposals to sell off the entire property stock to GE Real Estate. The deal, which will net shareholders £417.5m, represents a 4% premium to SWUF proposals. At the planned meeting on 31 July, shareholders were to have voted on SWUF plans to replace the current board of directors, wind up the trust, sell property assets and return cash to shareholders. However, the incumbent board was urging shareholders to reject the pr...