Segro Takeover Rumours (SGRO)

Segro confirms takeover offer for Tritax EuroBox has lapsed HTTPS://www.ajbell.co.uk/articles/latestnews/282616/segro-confirms-takeover-offer-tritax-eurobox-has-lapsed

Tritax EuroBox withdrew its backing for a takeover offer by FTSE 100-listed industrial property investor Segro and instead supported a chunkier bid by private equity firm Brookfield. Brookfield will pay 69.0 pence in cash for Tritax Eurobox, a 6% premium to the implied 65.1p value of the Segro offer, based on the latter's closing price on Wednesday. Alliance News

Good deal for SGRO In the FTSE 100, Segro lost 1.5%. The London-based property investment company has reached agreement on a takeover offer for Tritax EuroBox, which will be implemented via a scheme of arrangement. Tritax EuroBox investors will receive 0.0765 new Segro shares per Tritax share, as well as a 1.25 euro cents quarterly dividend. The deal values Tritax EuroBox at GBP1.10 billion, including net debt.