NewRiver REIT (NRR) has raised £50.2m from investors to support a possible takeover bid for UK shopping centre landlord Capital & Regional (CAL).
In a stock exchange notice on Wednesday (18 September), the board said it had agreed on the terms of a possible cash and share offer for the fellow real estate investment trust in a £147m deal. Under the terms agreed, Capital & Regional shareholders would own around 21% of the issued share capital of NewRiver upon completion and be entitled to receive 31.25p in cash and 0.41946 new NRR shares for each CAL share. Tritax EuroBox agrees to £550m SEGRO takeover in latest REIT M&A deal The potential offer represents a premium of around 21% to the closing price of Capital & Regional on 2...
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