NewRiver gets new date to make firm bid for Capital & Regional

(Alliance News) - Capital & Regional PLC said on Thursday its suitor NewRiver REIT PLC will have ...

Alliance News 12 September, 2024 | 6:58AM
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(Alliance News) - Capital & Regional PLC said on Thursday its suitor NewRiver REIT PLC will have more time to make formal takeover offer.

NewRiver now has a new put-up-or-shut-up date of September 26, extended from Thursday this week.

To allow the discussions with NewRiver to continue, Capital & Regional said it had requested, and the UK's Panel on Takeovers & Mergers has consented to, an extension to the date by which NewRiver is required to either announce a firm intention to make an offer for the company.

NewRiver has expressed interest in acquiring the London-based real estate investment trust.

On Tuesday this week, Praxis Group Ltd, a privately owned property company that specialises in shopping centres in the UK, abandoned its bid to takeover Capital & Regional.

NewRiver said late in May it had made a proposal to Growthpoint Properties Ltd about a potential takeover of Capital & Regional. Growthpoint owns 68% of Capital & Regional.

Vukile Property Fund Ltd late in May withdrew its bid to acquire Capital & Regional, for a moment leaving NewRiver as the only declared suitor.

By Artwell Dlamini, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
NewRiver REIT PLC 71.90 GBX 0.70 -
Capital & Regional PLC
Vukile Property Fund Ltd 2,265.00 ZAC -0.09 -
Growthpoint Properties Ltd 24.75 -
Growthpoint Properties Ltd 1,624.00 ZAC -0.12 -

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