LondonMetric Property Makes Approach to Buy Urban Logistics

Dow Jones

2025/04/14

By Ian Walker

LondonMetric Property said late Friday that it made a cash and share proposal to buy Urban Logistics REIT.

The U.K. real-estate investment trust said that it made the approach on April 2 and was awaiting a reply from Urban Logistics.

Separately Urban Logistics said it had received the approach from LondonMetric and was reviewing it with its advisors.

No financial details of any deal has been disclosed by either company and both have cautioned that there is no certainty any deal will be made.

LondonMetric had a market capitalization of 3.74 billion pounds ($4.89 billion) and Urban Logistics was worth 595.3 million pounds based on their closing share prices of 182.1 pence and 128 pence respectively on Friday.

LondonMetric has until May 9 to either make an offer to buy Urban Logistics or walk away under U.K. Takeover Panel rules.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

April 14, 2025 01:05 ET (05:05 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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