18th Jul 2024 14:06
Capital & Regional PLC - London-based real estate investment trust - UK Panel on Takeovers & Mergers gives NewRiver REIT PLC until August 15 to make a formal offer for Capital & Regional. The deadline for NewRiver to announce a firm intention to make an offer for Capital & Regional was originally June 20. It requested an extension Thursday this week. Says NewRiver again has requested for an extension of the deadline to facilitate ongoing discussions with NewRiver.
Late in May, NewRiver said it had made a proposal to Growthpoint Properties Ltd about a potential takeover of Capital & Regional. Growthpoint owns 68% in Capital & Regional. Vukile Property Fund Ltd late in May said it had withdrawn its bid to acquire Capital & Regional, leaving NewRiver as the only declared suitor.
Capital & Regional stock price in London: 63.50 pence, down 2.0% on Thursday
12-month change: up 20%
Stock price in Johannesburg: ZAR15.00
12-month change: up 53%
By Artwell Dlamini, Alliance News reporter
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