Bluestar Group has criticised Home REIT for turning down its request to extend the deadline to make a firm intention to offer or withdraw from the sale process.
As it stands, the deadline to do so is today (11 May) at 5pm. Bluestar lamented a lack of engagement from the Home REIT board since February 2023, when the company started "arranging financing and carrying out outside-in due diligence", it said in a regulatory filing. Civitas' second largest tenant faces enforcement action from regulator Bluestar claimed Home REIT provided "limited diligence information in February 2023", but then failed to engage with Bluestar on its potential offer since. The group's proposed offer of 40p per issued and to-be-issued share remains subject to se...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
