Civitas Social Housing REIT shifts terms of takeover deal to achieve 'unconditional' offer

Waived down acceptance offer

Civitas Social Housing REIT has attempted to push its takeover deal over the line by shifting the terms of its acceptance offer.

Civitas is currently involved in a M&A deal from CK Bidco, with the former offering a £485m take-private offer back in May. The deadline for the takeover bid of the trust was brought forward to 23 June from 21 July earlier this month (9 June), when CK Bidco said it held or had received valid acceptance of the offer from 17.3% of Civitas' issued share capital. Civitas Social Housing REIT sale struggles as deadline approaches In an RNS notice on Friday (23 June), Civitas said it was waiving down the percentage required to satisfy the ‘acceptance condition' from not less than 75% of t...