BUZZ-UK's Warehouse REIT gains after rebuffing takeover proposal

Reuters
2025/03/04
BUZZ-UK's Warehouse REIT gains after rebuffing takeover proposal

** Shares of Warehouse REIT WHRW.L rise as much as 20.2% to 101.9p, highest since June 2023

** Stock top pct. gainer on FTSE Small Cap .FTSC index

** The warehousing specialist on Monday rejected possible all-cash 110.5p/share offer from consortium of Blackstone Europe and Sixth Street Partners

** Proposal, put forward on February 23, valued the property firm at 470 mln pounds ($597.5 mln)

** Consortium's fourth-indicative proposal, which includes Q3 dividend of 1.6p/share, represents premium of 34.1% to stock's close on February 28

** Shore Capital analyst Andrew Saunders says proposal fails to fully reflect full potential of the business, unique attractions of the multi-let industrial property market

** Stock up ~25% YTD

($1 = 0.7866 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru)

((abyjose.koilparambil@thomsonreuters.com))

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