abrdn Property Income offer deadline extended

Urban Logistics has until 20 March

The deadline for Urban Logistics REIT (SHED) to make a firm offer for abrdn Property Income (API) has been extended to 20 March, following the adjournment of the shareholder meetings.

The move comes following this morning's (14 March) statement of support from API of the merger with Custodian Property Income REIT (CREI), over the potential bid from SHED. While API has welcomed SHED's bid, the trust has recommended CREI's "compelling strategic and financial rationale", and confirmed it would not recommend a bid from SHED to its shareholders. abrdn Property Income board calls on shareholders to back Custodian merger The extension means SHED must make a firm offer or withdraw by 5pm on 20 March, the seventh day prior to the 27 March adjourned meetings. According...