Custodian REIT says property investors looking beyond pandemic

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() has revealed that it is in discussions to potentially acquire Drum Income Plus REIT PLC through a share exchange.In its own announcement on Wednesday, Drum Income said the offer under consideration will see investors offered 0.535 Custodian REIT shares for each share they hold in the firm, which will value the company at around £21.6mln based on Custodian’s closing price on August 3 of 105.8p.The offer represents an 8.8% premium on Drum Income’s closing bid price on August 3 of 52p.Drum Income also said that the board has confirmed the offer is at a value its board “would be minded to recommend”, adding that Custodian has already received support from Drum Income’s largest shareholder, Seven Investment Management, which owns a 68.76% stake in the group. Source link
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