UK's Industrials REIT jumps on reaching terms of premium offer

Industrials REIT

03/04/2023 08:35

** Shares of Industrials REIT  MLII.L  up as much as 39% to
164p, on track to log best day ever, if gains hold 
    ** UK-focussed multi-let industrial estate operator agrees
to terms of a 168p-per-share offer from new entity controlled by
Blackstone funds 
    ** Per share offer at a premium of 42.4% to Industrials'
last close, says co 
    ** Adds, cos targeting announcement of firm offer by April
14
    ** Stock top pct gainer on FTSE small caps  .FTSC  index as
well as across all London shares 
    ** Shares hit highest since Sept. 20 
    ** Up to last close, stock down 10% so far this year 

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))