Urban Logistics REIT (SHED) has made a takeover approach for abrdn Property Income (API), a month after the latter agreed to merge with Custodian Property Income REIT (CREI).
In a stock exchange notice on Tuesday (20 February), the £1.1bn UK-focused logistics landlord said it had tabled an indicative offer for API's entire share capital, proposing to pay 0.469 of its own shares for each API share. The bid represents an offer value of approximately 59.2p per API share based on its closing share price on Monday (19 February), representing a 13% premium to the Custodian offer, the trust said. abrdn Property Income agrees to merge with Custodian Property Income REIT According to SHED, this compares to the current value of CREI's offer, which stands at appro...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
