Betaville

The newspaper City diary, the newly formed company and the mystery takeover bid ... - Part 2

Today's move by Urban Logistics REIT to out its own all share pursuit of the Abrdn Property Income Trust is rather curious.

Below is a link today's press release, which claims Urban Logistics REIT lobbed in an indicative offer for Abrdn Property Income Trust last Friday...

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ABRDN Property Income Trust and Custodian Property Income REIT in £538 million all share "merger"

Consolidation among London-listed REITs continues.

This morning Custodian Property Income REIT is acquiring ABRDN Property Income Trust for £237 million with its own stock, which is a premium of around 30pc.

It looks like Custodian Property Income REIT's shareholders will end up with the lion's share of the equity in the new company, so I'm not sure this really is a "merger" as billed in the announcement...

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