LondonMetric Announces Recommended Offer for Urban Logistics REIT
Why we think this is neutral
This RNS announcement is a general update on a recommended offer, which does not contain any specific financial or trading information. As a result, I have assigned a neutral sentiment score.
Key Points
- Recommended cash and share offer for Urban Logistics REIT
- Offer values Urban Logistics at £698.9 million
- Combined group to have pro forma market capitalization of £4.4 billion
- LondonMetric to become one of the largest UK REITs
Summary
The real estate investment trust announces a recommended cash and share offer to acquire the entire issued share capital of Urban Logistics REIT.
LondonMetric Property PLC has reached an agreement with Urban Logistics REIT PLC on the terms of a recommended cash and share offer for the entire issued and to be issued ordinary share capital of Urban Logistics. Under the terms, Urban Logistics shareholders will receive 0.5612 new LondonMetric shares and 42.8 pence in cash for each Urban Logistics share held. The transaction will create a combined group with a pro forma market capitalization of £4.4 billion, making LondonMetric one of the largest UK REITs.
Key Dates
30 June 2025
Expected Effective Date of the Scheme
GENERAL UPDATE