PRS Reit confirms takeover proposal from Long Harbour

(Sharecast News) - PRS Reit confirmed on Wednesday that it has received a takeover proposal from real estate management firm Long Harbour.

Responding to a Sky News story earlier, PRS said that under the terms of the possible offer, shareholders would be entitled to receive 115p per share in cash.

"Discussions with Long Harbour are ongoing," it said, adding that it expects to provide a further update on the formal sale process by the end of June.

PRS said there can be no certainty that an offer will be made, nor as to the terms of any offer if made.