abrdn Property Income postpones general meeting following second takeover bid

Urban Logistics

The abrdn Property Income trust aims to adjourn its previously arranged court and general meetings in order to assess the second takeover bid made by Urban Logistics REIT (SHED) on 20 February.

According to a regulatory filing, API will delay the meetings from 28 February to 20 March, although the second bid is not yet a binding offer. Urban Logistics REIT makes takeover bid for abrdn Property Income The adjournment will allow time for SHED to conduct its due diligence and to make a binding proposal, although there is no certainty a firm offer will be submitted. On Tuesday (20 February), the £1.1bn SHED said it had tabled an indicative offer for API's entire share capital, proposing to pay 0.469 of its own shares for each API share. abrdn Property Income agrees to merg...