UK's Warehouse REIT has agreed to a takeover offer from Blackstone, valuing the company at 470 million pounds, or approximately $635.35 million. The offer price of 110.6 pence per share includes a 1.6 pence dividend, representing a 34.2% premium to Warehouse REIT's closing stock price on February 28.
The acquisition, made by Wapping Bidco Ltd, a newly-formed company indirectly owned by Blackstone investment funds, follows Blackstone lowering its bid due to valuation-related issues uncovered during due diligence. Despite this, the agreed price reflects a compelling valuation for the company.
Warehouse REIT's Chairman, Neil Kirton, stated that the company's growth had been constrained by macroeconomic factors and high interest rates, making Blackstone's offer attractive. This acquisition further strengthens Blackstone's position in the logistics real estate market, a key strategic sector.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.