Tritax Big Box (BBOX) announced it’s walking away from its proposed £485mn offer to acquire rival Warehouse REIT.
The news follows Warehouse REIT’s decision to withdraw its recommendation to its shareholders to accept BBOX’s offer on 11 July. Instead, Warehouse REIT recommended an increased offer from rival bidder, Blackstone.
On 22 August, BBOX announced it had no intention to improve its offer.
BBOX is barred from making another offer for 12 months without the Warehouse REIT board’s consent.
The shares were broadly flat in early trading.
Our view
HL view to follow.
Tritax Big Box key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is not advice or a recommendation to buy, sell or hold any investment.No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication.Non - independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place(including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing.Please see our full non - independent research disclosure for more information.