India, May 9 -- The boards of LondonMetric and Urban Logistics have reached agreement on the terms of a recommended cash and share offer pursuant to which LondonMetric will acquire the entire issued and to be issued ordinary share capital of Urban Logistics. Under the terms of the acquisition, for each Urban Logistics share held, the Scheme shareholders will be entitled to receive: 0.5612 New LondonMetric shares and 42.8 pence in cash. The acquisition values each Urban Logistics share at 150.3 pence and the entire issued and to be issued ordinary share capital of Urban Logistics at approximately 698.9 million pounds.
Following completion, existing LondonMetric shareholders will hold approximately 89 percent and Urban Logistics shareholders...