Real estate investment trust LXi has agreed to a recommended all-share merger with LondonMetric in a deal valued at £1.9bn, creating an enlarged UK REIT with a combined £6.2bn portfolio.
Following weeks of discussions, the boards of both companies confirmed in a stock exchange notice today (11 January) that for each LXi share held, shareholders will receive 0.55 new LondonMetric shares as part of a scheme of arrangement. Based on the closing price per LXi share on 15 December of 99.5p, the offer represents a premium of about 9%, and a 13% premium to the volume weighted average closing price per LXi share for the one-month period to 15 December of 95.7p. LondonMetric Property in talks to acquire LXi REIT Once the merger is complete, existing LondonMetric shareholde...
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