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Finance

UK's Picton says LondonMetric, Schroders agree to $546 million takeover offer

Published by Global Banking & Finance Review

Posted on May 12, 2026

1 min read

· Last updated: May 12, 2026

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UK's Picton Property agrees $546 million all-share takeover by LondonMetric, Schroder

Picton Property Income Agrees to Takeover Terms

Deal Announcement and Overview

May 12 (Reuters) - Britain's Picton Property Income said on Tuesday it has agreed to a 403-million-pound ($546.4 million) all‑share takeover offer from a consortium comprising LondonMetric Property and Schroder REIT .

Takeover Offer Details

Under the terms of the deal, Picton shareholders will receive 0.190 LondonMetric shares and 0.881 Schroder REIT shares for each Picton share, valuing the company at 78.2 pence per share. This offers a premium of roughly 7% to Picton's previous closing price.

Benefits for Picton Shareholders

LondonMetric and Schroder REIT said the proposed deal would enable Picton shareholders to realise a premium on their holdings while maintaining exposure to the company's assets through stakes in two larger UK‑listed real estate investment trusts.

Additional Information

($1 = 0.7376 pounds)

(Reporting by Ankita Bora in Bengaluru; Editing by Sherry Jacob-Phillips)

Key Takeaways

  • The £403 million bid values Picton significantly above its recent market cap of around £415–£449 million, reflecting substantial premium potential for shareholders (lse.co.uk).
  • The offer is non‑binding and subject to further due diligence and formal approval under the UK Takeover Code, with dispensations already granted around disclosure and timing (investing.com).
  • If completed, Picton shareholders would receive new shares in both LondonMetric and SREIT, enabling roll‑over into larger, diversified REITs amid broader sector consolidation trends (uk.investing.com)

References

Frequently Asked Questions

What is the value of the takeover offer for Picton?
The takeover offer for Picton is valued at 403 million pounds, or approximately $546.4 million.
Who are the companies involved in acquiring Picton?
LondonMetric Property and Schroder Real Estate Investment Trust have agreed to acquire Picton.
What type of offer was made to Picton?
An all-share, non-binding offer valued at 403 million pounds was made to Picton.
When was the Picton takeover agreement reported?
The agreement was reported on May 12.

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