Future Of British Business
Tritax Offers to Buy UK REIT in $1.2 Billion All-Share Deal
- High interest rates, pandemic, Brexit are driving REIT deals
- Real estate trusts are also seeking scale for better earnings
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Tritax Big Box REIT Plc has offered to buy out UK Commercial Property REIT Ltd. in an all-share deal valued at £924 million ($1.2 billion).
The offer represents a premium of about 10.8% to UKCM’s Feb. 9 closing price and 23% over its six-month volume weighted average as of the same date, the company said in the statement on Monday.