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Custodian REIT PLC - UK commercial property investor - Court gives its sanction to its acquisition of Drum Income Plus REIT PLC through an all-share merger.
In early September, both trusts agreed to the deal, where Drum investors will receive 0.530 Custodian shares for each Drum share if they accept; slightly below the possible offer announced on August 4, of 0.535 Custodian shares per Drum share.
That made the offer worth 51.20 pence per share, or GBP19.6 million. Following the sanction, shares in Drum Income will be delisted on Thursday.
Custodian current stock price: 96.00 pence
Year-to-date change: up 9.3%
Drum current stock price: 48.60 pence
Year-to-date change: up 56%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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