Small premium to Blackstone offer Combined £7.4 billion of assets Deal offers ongoing REIT exposure The takeover frenzy in listed real estate took another turn today with the news Tritax Big Box (BBOX) had reached agreement with Warehouse REIT (WHR) on a cash and shares deal, less than a fortnight after the latter had agreed terms with funds managed by Blackstone. The higher offer from Tritax...

The takeover bandwagon is picking up speed as the year progresses with deals seemingly now being announced each week. On 9 June US chipmaker Qualcomm (QCOM:NASDAQ) agreed to take over Alphawave IP Group (AWE), which designs high-speed data transmission technology and licences it to semiconductor designers and manufacturers, much like Cambridge-based ARM (ARM:NASDAQ), once the UK's biggest...

Luxury goods brand Burberry (BRBY) has ended its 15-year sojourn in the FTSE 100.The relegation comes after dramatic share price falls for the company in 2024. EasyJet (EZJ), which had been on course to suffer the same fate, looks to have saved itself with a recent rally (confirmation of the outcome of the reshuffle was due after market close on 4 September).In May this year, EasyJet investors...

Stocks in London and Europe were down at midday on Friday, following a steady eurozone inflation reading from Eurostat for April, with Land Securities and GSK among the largest fallers on the FTSE 100.The FTSE 100 index was down 31.84 points, 0.4%, at 8,406.81. The FTSE 250 was down 117.22 points, 0.6%, at 20,705.62, and the AIM All-Share was down 0.98 of a point, 0.1%, at 791.52.The Cboe UK...

At Shares, we have been flagging the potential for M&A in the investment trust space for months, not least in the REIT (real estate investment trust) sector due to the abundance of companies trading well below their net asset values.In the last month alone, three real estate mergers have been announced ? between LondonMetric (LMP) and LXI (LXI), Tritax Big Box (BBOX) and UK Commercial Property...

The recent wave of takeovers and mergers in the quoted UK commercial real estate sector has continued this week with the proposed all-share takeover of UK Commercial Property (UKCM) by Tritax Big Box (BBOX).The deal, which values UKCM at 71.1p per share or a 10.8% premium to the previous day?s closing price, would create the UK?s fourth-largest REIT (real estate investment trust) by market cap...

All-share deal to create top four REITOffer at a 10.8% premium to closing priceStrong strategic rationale for combiningThe wave of consolidation in the UK listed property sector looks set to continue with today?s announcement of an proposed deal between Tritax Big Box (BBOX) and UK Commercial Property (UKCM) to create the fourth-largest REIT (real estate investment trust) by market...

Jefferies cuts stocks to 'hold' or 'sell'Analysts see 'recession' in officesMorgan Stanley takes a more positive viewShares in four of the UK's biggest property companies fell after analysts at investment bank Jefferies cut their recommendations on the basis office rents in the capital are headed for recession.British Land (BLND) shares eased 1.9% to 320p, Derwent London (DLN) shares were 1.6%...