8th Dec 2015 16:48
LONDON (Alliance News) - Japan Residential Investment Co Ltd Tuesday said that it has been informed that a third party, which had made an approach for the company at 73.5 pence, is no longer interested in making an offer.
In November the company said it had reached terms on a GBP152.6 million, 72.00 pence per share deal to be acquired by the Blackstone funds via Nikko II Pte Ltd, a newly-incorporated bidding vehicle. However, later in the month it revealed a potential rival approach from another third party of 73.5 pence.
Japan Residential said it had made the announcement without the consent of this third party, who was not disclosed.
Shares in Japan Residential closed down 0.4% at 72.86 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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