The bidder for Civitas Social Housing, CK Asset Holdings, has brought forward the unconditional date for its takeover bid of the real estate investment trust to 23 June from 21 July.
On 9 May, the Civitas board said it had agreed to a recommended all-cash offer for the entire issued capital of the trust from Hong Kong-based property developer CK Asset Holdings. The bid, made by the developer's wholly owned indirect subsidiary Wellness Unity, valued the company at approximately £485m, which represents a premium of around 44% to the closing price of 55.4p on 5 May. Civitas Social Housing REIT agrees to £485m take-private offer In a stock exchange notice today (9 June), CK Asset Holdings said it wanted to conclude the offer process to give Civitas shareholders an ...
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