Tritax EuroBox (EBOX) has adjourned the court and general meetings required to approve the initial takeover offer by SEGRO, after the directors withdrew their recommendation for the deal in favour of Brookfield's.
In a stock exchange notice published on Friday (18 October), the EBOX board said Brookfield's offer represents "an attractive premium over the earlier all-share offer by SEGRO", which the directors originally backed in early September. The cash deal for Tritax Eurobox with Brookfield's real estate private funds put forward on 10 October values each EBOX share at 69p, while SEGRO's all-share offer had valued it at about 68.4p a share. The directors have withdrawn their support for the SEGRO offer and adjourned the court and general meetings due to be held on Thursday (24 October) to a...
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