NewRiver REIT has launched a £147m cash and share offer to acquire Capital & Regional in an attempt to expand its investment in the UK retail real estate sector.
On the last day before the offer period commenced (22 May 2024), the proposal made by NewRiver valued Capital & Regional at 62.5p per share, a figure that represents a 21% premium to the company's closing share price on that date (51.5p). NewRiver's offer additionally represents an 18% premium to the half year average price of 53p per share. Today's news comes after NewRiver raised £50.2m from investors as it prepared to take over the UK shopping centre landlord. NewRiver REIT raises £50m to make possible takeover bid for Capital & Regional Under the terms of the latest deal,...
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