UK's Industrials REIT gains on potential takeover offer by Blackstone

Industrials REIT

14/04/2023 10:45

** Shares of Industrials REIT Ltd  MLII.L  climb as much as
2.4% to 167.50p, among top pct. gainers on FTSE Small Cap
 .FTSC  index
    ** The multi-let industrial property firm agrees to a 511
mln pounds ($639.2 mln) takeover offer from Sussex Bidco —
indirectly owned by U.S. investment manager Blackstone Inc
    ** The offer price of 168p per Industrials REIT share
represents a 42% premium to closing price of 118p on March 31,
the day before the company said it would recommend the deal if a
formal offer was made
    ** Offer is final and won't be increased, companies said in
a joint statement
    ** Stock hits highest level since Sept. 16, 2022 
    ** Including session's gains, stock up more than 45% YTD


($1 = 0.7994 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))