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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Blackstone Inc | NYSE:BX | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 125.67 | 126.12 | 124.6207 | 125.01 | 3,080,941 | 01:00:00 |
From May 2022 to May 2024
By Ian Walker
Industrials REIT Ltd. said Friday that it has agreed to a 511.2 million-pound ($640.2 million) takeover by Sussex Bidco LP, a new company indirectly owned by Blackstone Inc.
Under the deal, accepting shareholders of the U.K. multilet industrial-property company will get 168 pence in cash as indicated earlier this month. The offer price is a 42% premium to the company's closing price of 118.0 pence on March 31, the day before the company said it would recommend the deal if a formal offer was made.
The company said on April 3 that including debt, the enterprise value of the deal was GBP700 million.
The offer is final and won't be increased, the companies said in a joint statement.
"We believe this offer is in the best interests of Industrials shareholders providing them with cash certainty at an attractive premium to the pre-offer share price and significantly accelerating the value that could be realized by Industrials if it were to remain listed," Chairman Richard Grant said.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
April 14, 2023 02:59 ET (06:59 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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