Cash offer for Industrials REIT on the horizon

Blackstone purchase

Industrials REIT has reached an agreement with Blackstone for a possible cash offer for the trust, it said in a regulatory filing.

Under the financial terms, a new entity controlled by one or more of the investment funds advised by Blackstone or any of its affiliates would pay 168p per ordinary shares in cash to Industrials REIT shareholders. The final offer represented a premium of 42.4% to the trust's closing price of 118p per share and 40.6% to the Industrials REIT one-month volume weighted average share price of 119.5p as of 31 March. REITs present a 'long-term buying opportunity' despite inflation pressures The trust's board indicated that it intended to recommend the deal to its shareholders, should an o...