Urban Logistics (SHED) has urged the abrdn Property Income (API) board to reconsider its takeover proposal over the offer put forward by Custodian Property Income (CREI).
In a stock exchange notice today (18 March), the trust urged the board to "call a halt" to the merger with Custodian, and instead actively focus on its proposal, despite having not yet announced a firm intention to make an offer. The move comes following last Thursday's (14 March) statement of support from API of the merger with Custodian, 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 ...
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