Home REIT declines further sale deadline extension to Bluestar Group

Lack of board engagement

Cristian Angeloni
clock • 3 min read

Bluestar Group has criticised Home REIT for turning down its request to extend the deadline to make a firm intention to offer or withdraw from the sale process.

As it stands, the deadline to do so is today (11 May) at 5pm. Bluestar lamented a lack of engagement from the Home REIT board since February 2023, when the company started "arranging financing and carrying out outside-in due diligence", it said in a regulatory filing. Civitas' second largest tenant faces enforcement action from regulator Bluestar claimed Home REIT provided "limited diligence information in February 2023", but then failed to engage with Bluestar on its potential offer since. The group's proposed offer of 40p per issued and to-be-issued share remains subject to se...

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