LondonMetric and Schroder REIT to Acquire Picton Property
Picton Property Income has agreed to a 403 million pound all-share takeover by LondonMetric and Schroder REIT. The deal offers a 7% premium to its shareholders.
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Picton Property Income agreed to a £403 million ($546.4 million) all-share takeover by a consortium comprising LondonMetric Property and Schroder REIT. The offer values Picton at 78.2 pence per share, a 7% premium to the previous closing price. Shareholders will maintain exposure to larger UK-listed real estate investment trusts.
