UK's Empiric Student Property jumps on buyout proposal from Unite Group

Empiric Student Property

05/06/2025 12:47

** Shares of British real estate investment trust Empiric Student Property ESP.L up as much as 9.4% at 106.4p, touching a near eight-year high

** Company receives buyout proposal worth 710.6 million pounds ($964.71 million) from student accommodation developer Unite Group UTG.L

** Unite has offered 30 pence in cash and 0.09 new Unite shares per Empiric share, if deal is agreed upon

** Unite has until July 3 to make a firm offer or walk away

** Including session's gains, Empiric shares up 24.07% YTD

($1 = 0.7366 pounds)

(Reporting by Anandita Mehrotra in Bengaluru)

((Anandita.Mehrotra@thomsonreuters.com))