LONDON, June 24 (Reuters) - Top St Modwen Properties
shareholder Aviva Investors said on Thursday it planned to back
a revised 1.25 billion pounds ($1.75 billion) bid for the
company from private equity firm Blackstone.
The 560 pence a share offer was increased from a previous
offer of 542 pence, for a premium of around 25% to the closing
price the day before the first offer was made in May.
“As major shareholders in St. Modwen, we are supportive of
the board and we intend to vote in favour of the revised offer
from Blackstone,” Aviva said in a statement.
Aviva Investors holds a 7.27% stake in St Modwen, making it
the largest investor according to Refinitiv data.
($1 = 0.7160 pounds)
(Reporting by Simon Jessop; editing by Carolyn Cohn)