Industrials REIT Agrees to Proposed $615 Million Blackstone Takeover
April 03 2023 - 03:30AM
Dow Jones News
By Ian Walker
Industrials REIT Ltd. said Monday that it has agreed to a
possible 498.7 million pound ($615.1 million) takeover from
Blackstone Inc. that it would recommend to shareholders if a formal
proposal is made.
Under the proposal, accepting shareholders of the U.K. multilet
industrial property company would get 168 pence for each share
held. The proposed price is a 42% premium to Friday's closing price
of 118.0 pence.
Blackstone has until May 1 to either make a formal proposal or
walk away under U.K. takeover panel rules.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
April 03, 2023 03:15 ET (07:15 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Blackstone (NYSE:BX)
Historical Stock Chart
From Aug 2023 to Sep 2023
Blackstone (NYSE:BX)
Historical Stock Chart
From Sep 2022 to Sep 2023
