Latest news with #TritaxBigBoxREIT
Zawya
4 days ago
- Business
- Zawya
UK's Warehouse REIT shifts allegiance to Blackstone over Tritax
Britain's Warehouse REIT recommended Blackstone's sweetened bid to its shareholders on Friday, withdrawing support for industry peer Tritax Big Box REIT's offer for the logistics specialist. Blackstone raised its offer for the London-listed company to about 489 million pounds ($662.20 million) on Thursday, outbidding Tritax's cash-and-stock offer of 485.2 million pounds. Logistics has remained attractive to property investors in an otherwise lacklustre real estate market, due to robust demand from eCommerce retailers seeking warehouse spaces to better service their clients. Real estate investment trusts – listed funds dedicated to property – have also seen a wave of dealmaking as they try to bulk up to improve profitability in tough trading conditions. Tritax on Thursday said it continued to believe that its buyout proposal was a "compelling proposition" for Warehouse shareholders. The company did not immediately respond to a Reuters request for comment on Friday. ($1 = 0.7384 pounds)
Bloomberg
4 days ago
- Business
- Bloomberg
Blackstone's Sweetened Bid Gets Backing of Warehouse REIT Board
The board of UK landlord Warehouse REIT Plc has recommended shareholders accept an increased offer for the company made by Blackstone Inc. that topped a proposal by rival Tritax Big Box REIT Plc. Blackstone's latest offer is 'fair and reasonable,' Warehouse REIT said in a statement Friday. The revised proposal provides shareholders with a 'certain all-cash offer' at a premium to Tritax's cash and share bid, Warehouse REIT chairman Neil Kirton said.
Yahoo
4 days ago
- Business
- Yahoo
UK's Warehouse REIT shifts allegiance to Blackstone's sweetened bid
(Reuters) -Britain's Warehouse REIT recommended Blackstone's sweetened bid to its shareholders on Friday, withdrawing support for industry peer Tritax Big Box REIT's offer for the logistics specialist. Blackstone raised its offer for the London-listed company to about 489 million pounds ($662.20 million) on Thursday, outbidding Tritax's cash-and-stock offer of 485.2 million pounds. ($1 = 0.7384 pounds)
Reuters
4 days ago
- Business
- Reuters
UK's Warehouse REIT shifts allegiance to Blackstone's sweetened bid
July 11 (Reuters) - Britain's Warehouse REIT (WHRW.L), opens new tab recommended Blackstone's (BX.N), opens new tab sweetened bid to its shareholders on Friday, withdrawing support for industry peer Tritax Big Box REIT's (BBOXT.L), opens new tab offer for the logistics specialist. Blackstone raised its offer for the London-listed company to about 489 million pounds ($662.20 million) on Thursday, outbidding Tritax's cash-and-stock offer of 485.2 million pounds. ($1 = 0.7384 pounds)
Yahoo
4 days ago
- Business
- Yahoo
UK's Warehouse REIT shifts allegiance to Blackstone's sweetened bid
(Reuters) -Britain's Warehouse REIT recommended Blackstone's sweetened bid to its shareholders on Friday, withdrawing support for industry peer Tritax Big Box REIT's offer for the logistics specialist. Blackstone raised its offer for the London-listed company to about 489 million pounds ($662.20 million) on Thursday, outbidding Tritax's cash-and-stock offer of 485.2 million pounds. ($1 = 0.7384 pounds) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
