EU and US could reach trade deal this weekend - Reuters
LONDON - Tritax Big Box REIT plc (LON:BBOX) has urged Warehouse REIT plc shareholders to take no action regarding a competing takeover offer from Blackstone (NYSE:BX)’s Wapping Bidco Ltd announced Thursday.
The statement comes in response to Wapping Bidco’s increased cash offer for Warehouse REIT under Rule 2.7 of the Takeover Code. Tritax said it is "considering its options" following the rival bid.
Tritax continues to believe its own cash and share acquisition proposal, announced on June 25, offers a "more compelling proposition" for Warehouse shareholders. The company emphasized that its offer would allow Warehouse shareholders to benefit from future growth potential of both companies’ portfolios within the combined business, alongside a cash component.
The board of Tritax Big Box REIT stated it will make further announcements "as appropriate" regarding its position.
The competing bids highlight increasing interest in the UK warehouse and logistics property sector, with both Tritax and Blackstone seeking to expand their industrial real estate portfolios through the acquisition of Warehouse REIT.
This information is based on a press release statement issued by Tritax Big Box REIT.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.