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LondonMetric boosts bid for UK's Urban Logistics REIT to $887.7 million

Published by Global Banking & Finance Review

Posted on April 14, 2025

1 min read

· Last updated: April 14, 2025

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LondonMetric Raises Offer for Urban Logistics REIT to $887.7M

(Reuters) - Britain-based property investment company Urban Logistics REIT said on Monday it had received a higher proposal from British landlord LondonMetric, valuing the company at 674 million pounds ($887.73 million).

Under the revised offer, LondonMetric is offering 0.5612 new shares and 42.8 pence in cash for each Urban Logistics' share, valuing the target's stock at 145 pence.

Last week, LondonMetric said it had acquired 5.6 million Urban Logistics shares at 132.5 pence apiece.

The latest offer represents a premium of 13.3%, based on Urban Logistics' closing share price on Friday.

Upon completion of the potential offer, Urban Logistics shareholders will collectively hold about 11% of the combined group.

The REIT's board said it has indicated to LondonMetric that it would recommend the offer to its shareholders if a firm offer is made.

($1 = 0.7592 pounds)

(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Tasim Zahid)

Key Takeaways

  • LondonMetric increases its bid for Urban Logistics REIT to $887.7 million.
  • The offer includes new shares and cash per Urban Logistics share.
  • The revised offer represents a 13.3% premium.
  • Urban Logistics shareholders to hold 11% of the combined group.
  • The REIT board recommends the offer if formalized.

Frequently Asked Questions

What is the main topic?
The main topic is LondonMetric's increased bid for Urban Logistics REIT, valuing it at $887.7 million.
What does the offer include?
The offer includes 0.5612 new shares and 42.8 pence in cash for each Urban Logistics share.
What is the premium of the offer?
The revised offer represents a 13.3% premium based on Urban Logistics' closing share price.

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