Blackstone (NYSE:BX) Europe LLP, an indirect subsidiary of Blackstone, has made a final bid to acquire London-listed Warehouse REIT. Following the announcement, the company’s stock rose by 2.2% in London.
The cash deal, announced on Tuesday, is valued at £489 million ($632 million), and represents a nearly 40% premium to the closing price prior to the initial offer.
The asset manager proposed a final indicative price of 115.0 pence per share for the entire share capital of Warehouse REIT. This price is a 4.1% increase from the possible offer of 110.5 pence per share, which was announced on March 3.
Blackstone stated that the final indicative proposal offers a compelling alternative to shareholders, giving full valuation for the company and its future prospects. The firm has until March 31 to either announce a firm offer or decide to walk away.
Warehouse REIT is a property company that focuses on providing warehousing.
