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Investing.com -- Warehouse REIT saw its shares reach surge on Tuesday following a proposal from a consortium made up of Blackstone (NYSE:BX) Europe and Sixth Street Partners, who have offered to buy the company for 470 million pounds ($596.9 million).
In the early afternoon of European trading, the shares had risen more than 15%. Over the course of this year, the shares have seen a rise of 25%, with a 19% increase over the past three months.
Late on Monday, the consortium announced that it had put forth a fourth indicative proposal to the board of the multi-lease warehouse investor on February 23, offering 110.5 pence per share. However, this proposal was rejected on Friday.
The most recent proposal, which comes after three previous ones, was a 34% premium over the company’s closing price of 82.4 pence on Friday.
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