LXi REIT PLC - London-based commercial real estate investment trust - All share merger with LondonMetric Property PLC approved at court and general meetings. Just under 100% vote in favour at general meeting and just 95% at court meeting. The merger will see LondonMetric takeover LXi REIT, whose shareholders will receive 0.55 of a new LondonMetric share for each LXi REIT share that they own. LondonMetric shareholders will own 54% of the enlarged company and LXi holders the remaining 46%. The merger will create a combined company with EPRA net tangible assets of GBP4.1 billion, which the pair last month said will make it the fourth-largest UK REIT.
Current stock price: 101.80 pence
12-month change: down 10%
By Eric Cunha, Alliance News news editor
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LondonMetric (LMP)