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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 | |
|---|---|---|---|---|---|---|---|---|
| -0.87 | -0.71% | 122.49 | 123.39 | 122.01 | 122.91 | 2,962,481 | 21:28:03 |
From Apr 2022 to Apr 2024
By Ian Walker
Shares of Industrials REIT Ltd. rose as much as 39% on Monday after the company said that it has agreed to a possible 498.7 million pound ($615.1 million) takeover from Blackstone Inc. that it would recommend to shareholders if a formal proposal is made.
Under the proposal, accepting shareholders of the U.K. multilet industrial-property company would get 168 pence for each share held. The proposed price is a 42% premium to Friday's closing price of 118.0 pence.
Including debt, the enterprise value of the deal is GBP700 million.
Blackstone has until May 1 to either make a formal proposal or walk away under U.K. takeover panel rules.
Shares at 0757 GMT were up 44.0 pence, or 37%, at 162.0 pence, having peaked at 164.30 pence earlier in the session.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
April 03, 2023 04:23 ET (08:23 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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