Warehouse REIT's takeover battle has concluded with Tritax Big Box REIT (BBOX.L) officially withdrawing its bid on Wednesday, clearing the path for Blackstone's acquisition.
Initially, Warehouse REIT agreed to be acquired by BBOX through a cash-and-share scheme, but Blackstone countered with an improved all-cash offer of 113.4 pence per share, valuing the deal at 115 pence per share including dividends.
Following Blackstone's higher bid, Warehouse REIT's independent directors withdrew support for BBOX and recommended shareholders accept the revised Blackstone offer. With BBOX confirming it would not raise or restructure its proposal, the offer has been terminated.
BBOX is currently trading at 140.20 GBP, down 0.60 GBP or 0.43 percent on the London Stock Exchange.
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