LondonMetric Confirms Possible Offer for Urban Logistics REIT
Why we think this is neutral
This RNS announcement is a general update on a possible offer for Urban Logistics REIT by LondonMetric Property. It does not contain any specific financial or operational details that would allow for a more detailed sentiment analysis.
Key Points
- LondonMetric has submitted a non-binding, indicative proposal to acquire Urban Logistics REIT
- The proposed acquisition is subject to certain pre-conditions, including Urban Logistics not proceeding with management internalisation
- LondonMetric believes the acquisition would benefit Urban Logistics shareholders through exposure to its larger, more diverse portfolio and other advantages
Summary
LondonMetric Property Plc has submitted a non-binding, indicative, cash and share proposal to acquire the entire issued and to be issued share capital of Urban Logistics REIT Plc. LondonMetric believes the proposed acquisition would benefit Urban Logistics shareholders through exposure to LondonMetric's larger, more diverse portfolio, stronger income characteristics, better access to financing, and improved liquidity. The proposal is subject to certain pre-conditions, including Urban Logistics not proceeding with the internalisation of its management arrangements.