abrdn Property Income agrees to merge with Custodian Property Income REIT

In a stock exchange notice today (19 January), the trusts said that under the terms of the deal, each CREI shareholder will hold 59.7% and API shareholders 40.3% in Custodian Property Income. The transaction values each abrdn Property Income share at 62.1p, or £237m, and represents a premium of about 29.4% to the trust's closing price on 18 January.  CREI holds £615.2m in assets and is trading at a 14.8% discount to net asset value, according to the Association of Investment Companies, while API holds £454.6m and is running at a 41.7% discount.  LXi REIT agrees to £1.9bn LondonMetr...