Urban Logistics REIT Receives Possible Offer from LondonMetric Property
Why we think this is neutral
This RNS announcement does not contain any of the mandatory news types that would require a detailed analysis. It simply outlines a possible offer from LondonMetric Property for Urban Logistics REIT, without providing any financial details or operational updates.
Key Points
- Urban Logistics REIT received a revised proposal from LondonMetric Property regarding a possible offer
- The consideration would consist of new LondonMetric shares and a fixed amount in cash
- The Board of Urban Logistics is willing to engage in discussions and allow LondonMetric to conduct due diligence
Summary
Urban Logistics REIT plc has received a revised proposal from LondonMetric Property plc regarding a possible offer for the entire issued and to be issued share capital of Urban Logistics. The consideration would consist of new shares in LondonMetric based on an adjusted EPRA NTA exchange ratio plus a fixed amount in cash. The Board of Urban Logistics has indicated that it would be minded to recommend such an offer to shareholders, subject to agreement on the other terms of the offer.