Custodian Property Income REIT (CREI) has reaffirmed its commitment to the proposed merger with abrdn Property Income (API), following this week’s secondary bid made by Urban Logistics REIT (SHED).
In a regulatory filing, while the CREI board acknowledged API's "requirement to assess the potential options", chair David MacLellan argued the "rational conclusion" would be to continue with the all-share merger agreed in January. "This will benefit both sets of shareholders by creating a well-positioned REIT of enhanced scale, with the opportunity to participate in the returns from the two complementary portfolios, with a fully covered and sustainable dividend," he wrote. Urban Logistics REIT makes takeover bid for abrdn Property Income Regarding the CREI/API merger, the board ar...
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