India, April 14 -- Urban Logistics REIT, Monday announced that it has received a revised acquisition proposal from LondonMetric Property plc (LMP.L), offering 0.5612 new LondonMetric shares and 42.8 pence in cash per Urban Logistics share. This values each Urban Logistics share at 145.0 pence, representing a significant premium over recent trading prices.
The offer, totaling approximately 674 million GBP, also allows Urban Logistics shareholders to retain a pending dividend. Upon completion, Urban Logistics shareholders would hold about 11.3 percent of the combined entity.
Urban Logistics' board, finding the offer's financial terms appealing, has agreed to engage in discussions and permit due diligence. Key benefits include a value uplift...