Finance
Blackstone ups offer to $666 million in battle for UK's Warehouse REIT
Published by Global Banking & Finance Review®
Posted on July 10, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on July 10, 2025
2 min readLast updated: January 23, 2026
Blackstone increases its offer to $666 million for UK's Warehouse REIT, outbidding Tritax amid a surge in UK real estate acquisitions.
(Reuters) -U.S. private equity firm Blackstone on Thursday raised its offer for Warehouse REIT to about 489 million pounds ($666 million), topping an agreed deal for the London-listed company from industry peer Tritax Big Box REIT.
U.S.-based companies have been snapping up British assets recently, taking advantage of weaker UK valuations. UK-listed real estate investment trusts have also seen a flurry of deals as players look to bulk up in an uncertain economic backdrop.
Blackstone said its new offer valued Warehouse REIT shares at 115 pence apiece, an 8.3% premium to their closing price on June 3, the day before Blackstone disclosed its initial bid of 110.6 pence per share.
The new offer comprises 113.4 pence per share in cash and a dividend of 1.6 pence per share, Blackstone said in a statement.
Warehouse REIT shares were up 2.8% at 1009 GMT, a little above the offer price, suggesting some investors think the bid battle could have further to run.
Warehouse REIT last month accepted a cash-and-stock offer from Tritax Big Box REIT that valued it at about 114.2 pence per share, or 485.2 million pounds.
Asked whether the company would continue to support Tritax's proposal, Warehouse REIT declined to comment.
Tritax did not immediately respond to a request for comment.
Blackstone has said it wants to add Warehouse REIT to its logistics portfolio, while Tritax has said the business is complementary to its own.
Other British companies at the centre of bid battles include scientific instruments maker Spectris and healthcare real estate investor Assura.
($1 = 0.7346 pounds)
(Reporting by Shashwat Awasthi and Yamini Kalia. Additional reporting by Raechel Thankam Job in Bengaluru. Editing by Tasim Zahid and Mark Potter)
Blackstone has raised its offer for Warehouse REIT to approximately 489 million pounds, or $666 million, valuing the shares at 115 pence each.
Tritax Big Box REIT had made a cash-and-stock offer for Warehouse REIT that valued it at about 114.2 pence per share, totaling around 485.2 million pounds.
Following Blackstone's new offer, Warehouse REIT shares rose by 2.8% at 1009 GMT, indicating that some investors believe the bid battle may continue.
Blackstone's new offer includes 113.4 pence per share in cash along with a dividend of 1.6 pence per share.
Blackstone aims to add Warehouse REIT to its logistics portfolio, while Tritax believes the business is complementary to its own operations.
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