Warehouse REIT pivots away from Blackstone and agrees £485m Tritax deal

114.2p for each Warehouse share

The board of Warehouse REIT has made another move in its takeover journey and abandoned its ‘final’ agreed deal with Blackstone in favour of a cash and shares offer from Tritax Big Box REIT (BBOX).

Warehouse has been engaged for months in a bidding war between the two parties and back in April it was favouring the Blackstone £470m deal, after it was granted a second deadline extension on the matter. Warehouse REIT receives second deadline extension for Blackstone deal Today (25 June), the board has officially withdrawn is support for the US alternative manager and confirmed in a joint statement with BBOX that the parties have agreed to a recommended cash and share offer which will see the latter acquire the full Warehouse REIT stake. BBOX's deal values Warehouse at £485.2m an...