LondonMetric Property in talks to acquire LXi REIT

£6.4bn in combined assets

clock • 2 min read

LondonMetric Property is in discussions to acquire the real estate investment trust LXi in an all-share merger, confirmed in a statement by the boards today (18 December).

The statement revealed pre-conditions for LondonMetric to make a firm offer for the entire issued capital of LXi, including the completion of mutual due diligence, the provision of certain consents, waivers and approvals by each company's lenders and the board's recommendation of the merger to LXi's shareholders. The boards said a merger would result create a UK-focused triple net lease REIT of scale with a pro forma gross asset value of approximately £6.4bn and market capitalisation of £3.9bn, which is expected to provide "improved share liquidity and better access to capital". CT Pr...

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