By Frank Prenesti
Date: Monday 12 Feb 2024
LONDON (ShareCast) - (Sharecast News) - Tritax Big Box said it had agreed terms on a possible bid for UK Commercial Property REIT in an all-share deal worth £924m.
The company on Monday said it had offered 0.444 new Tritax shares for every UKCP share, leaving it with 76.7% of the merged group and UKCM shareholders with the remainder.
It also represents a 10.8% premium to UKCP's closing share price of 64.2 pence per share on February 9.
Tritax said the boards of both companies believe the potential offer would "bring together complementary logistics-oriented investment portfolios with a shared focus on resilient and growing income".
Phoenix Life and Investec Wealth & Investment UK - which hold 56.5% of UKCP - have indicated they will accept the offer on current terms, it added.
Reporting by Frank Prenesti for Sharecast.com
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Currency | UK Pounds |
Share Price | 153.20p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 170.30 |
52 Week Low | 123.60 |
Volume | 0 |
Shares Issued | 1,903.74m |
Market Cap | £2,916.53m |
Beta | 0.01 |
RiskGrade | 105 |
Value |
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Price Trend |
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Income |
---|
Growth |
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Strong Buy | 4 |
Buy | 4 |
Neutral | 2 |
Sell | 1 |
Strong Sell | 0 |
Total | 11 |
Latest | Previous | |
---|---|---|
4th Interim | 3rd Interim | |
Ex-Div | 14-Mar-24 | 02-Nov-23 |
Paid | 02-Apr-24 | 17-Nov-23 |
Amount | 2.05p | 1.75p |
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