Civitas Social Housing REIT sale struggles as deadline approaches

Only 0.83% of shares purchased

CK Bidco’s purchase of Civitas Social Housing REIT has made slow progress as its takeover attempt has seen just 0.83% of its shares acquired.

In a stock exchange announcement today (21 June), CK Bidco said that including the 17.1% of shares it already owned, it now held or had received valid acceptance of the offer from only 17.95% of shares. Civitas Social Housing REIT agrees to £485m take-private offer The deadline for the takeover bid of the trust was brought forward to 23 June from 21 July earlier this month (9 June), when CK Bidco said it held or had received valid acceptance of the offer from 17.3% of Civitas' issued share capital. The bid, issued on 9 May, valued Civitas at approximately £485m, which represent...