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LONDON - Urban Logistics REIT plc (the "Company"), a UK-based real estate investment trust, today announced that discussions with LondonMetric Property plc regarding a potential offer for the Company are ongoing. This development follows the withdrawal of a requisition for a general meeting by Achilles Investment Company Limited.
The Company had previously disclosed on April 14, 2025, that it was in preliminary talks with LondonMetric, which have now progressed to confirmatory due diligence. However, the Company emphasized that there is no certainty that an offer will be made. Urban Logistics advised its shareholders to refrain from taking any action at this time.
In line with the Takeover Code, LondonMetric has until 5:00 pm London time on May 9, 2025, to either declare a definitive intention to make an offer for Urban Logistics or state that it will not pursue an offer. This deadline may be extended only with the permission of the Takeover Panel.
The news comes after Achilles Investment Company Limited retracted its demand for a general meeting, a move that the Board of Urban Logistics welcomed. The withdrawal indicates a shift in the dynamics surrounding the Company’s future, as shareholder actions can often influence merger and acquisition discussions.
Investors and market watchers are advised to await further announcements for updates on the potential offer’s progress. The information in this article is based on a press release statement issued by Urban Logistics REIT plc.
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