IRES Backs Barings Takeover Bid
Irish Residential Properties REIT announced it would back a potential all-cash takeover offer from Barings. The proposal values the landlord at about 827 million dollars and represents a 30 percent premium.
Irish Residential Properties REIT, Ireland's largest private residential landlord, said on Monday morning it would back an $827.12 million takeover proposal from Barings. The potential all-cash bid values the company at €726.88 million, or €1.386 per share. The proposed price represents a 30.75% premium over the stock's closing price on Friday.
