LondonMetric Property has acquired UK REIT Highcroft Investments through an all-share deal.
Highcroft – listed on the International Stock Exchange – was valued at 842.1p per share or £43.8m, a premium of 40.4% to the closing price of 600p on 26 March. The respective boards have agreed to the takeover via an all-share offer, which will see Highcroft shareholders receive 4.65 LondonMetric shares per Highcroft share as well as an interim dividend of 35p per Highcroft share, payable on 16 May. Warehouse REIT agrees to 'final' indicative cash offer proposal from Blackstone Highcroft shareholders who retain their new LondonMetric shares once the acquisition has completed, will...
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