Empiric Student Property Receives Possible Offer from The Unite Group
Why we think this is neutral
This announcement from Empiric Student Property plc simply states that the company has received a non-binding proposal from The Unite Group PLC to acquire the entire issued and to be issued share capital of Empiric. There are no details provided about the company's financial performance or operations, so I cannot make a more detailed assessment of the sentiment.
Key Points
- Empiric Student Property plc has received a non-binding proposal from The Unite Group PLC to acquire the company
- The proposal comprises 30 pence in cash and 0.09 new Unite shares per Empiric share
- Based on Unite's closing share price, the proposal values each Empiric share at 107.0 pence
- The companies have agreed to an initial period of due diligence
Summary
Empiric Student Property plc has received a non-binding proposal from The Unite Group PLC to acquire the entire issued and to be issued share capital of Empiric. The proposal comprises 30 pence in cash and 0.09 new Unite shares per Empiric share. Based on Unite's closing share price on 4 June 2025, the proposal values each Empiric share at 107.0 pence. The companies have agreed to an initial period of due diligence, and a further announcement will be made as appropriate.