IN BRIEF: Ground Rents Income rejects fifth Victoria offer
Ground Rents Income Fund PLC - London-based property investor - Receives and rejects fifth non-binding acquisition offer from Victoria Property Holdings Ltd at GBP40.0 pence per share, as the offer "continues to significantly undervalue" the company. Victoria had made a fourth offer of 37.5p per GRIO share on January 31. GRIO says it continues to provide Victoria with requested materials so that it may conduct due diligence, though notes "the company already provides a high level of relevant disclosure in its accounts". In January GRIO had declined to provide further access to due diligence information as requested by Victoria. Relatedly, GRIO has requested and received an extension from the Takeover Panel until 17:00 GMT on February 25 for Victoria to announce its intention to make an offer. Read More