Real estate investment trust Custodian Property Income (CREI) has reiterated its call for abrdn Property Income (API) shareholders to vote in favour of its merger bid, as it continues to battle Urban Logistics (SHED) for the takeover of the trust.
In a stock exchange notice today (4 March), CREI laid out what it said are the "key factors" abrdn Property Income shareholders should consider when assessing the credibility of Urban Logistics' indicative offer and API's future. According to the trust, its bid provides "a superior offer" and a premium to the Urban Logistics indicative offer on both an undisturbed (+5%) and current share price (+6%) valuation. The trust also argued that CREI and API have complementary portfolios and the merger would not require shareholders in either fund to undertake a shift in investment strategy or...
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