Civitas Social Housing PLC - Exeter, England-based real estate investment trust - Takeover offer from real estate investor CK Asset Holdings Ltd receives acceptances representing around 94% of Civitas' share capital. CK will shortly despatch a formal compulsory acquisition notice to acquire the remaining shares. Expects to cancel Civitas' listing on London's Main Market on August 4.
"Civitas shareholders who have not yet accepted the offer are urged to do so as soon as possible," the company says.
CK unveiled its offer early in May, for 80 pence per share, which was a 44% premium to Civitas' closing price of 55.4p per share prior to the offer, valuing the company around GBP485 million.
Current stock price: GBP79.60, up 0.1% on Friday
12-month change: up 2.7%
By Will Neill, Alliance News reporter
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