RE: MERGER WITH ABRDN PROPERTY INCOME19 Jan 2024 10:55
Notionally paying 62p with reference to CREI's market share price (79.6p), yes.
CREI shareholders will be issuing 297.3m shares (0.78CREI to 1 API), which at September had a value of 95.9p per share, December now 93.7p. 297.3m x 93.7p (i.e. the NAV of the share you are issuing)= £278.6m
CREI will be absorbing API which did have a Sep23 val of £313m, but at the end of the Dec its £299m.
9% discount.