LondonMetric agrees £698.9m deal to acquire Urban Logistics

Following Achilles activism

The boards of LondonMetric and Urban Logistics REIT have struck a £698.9m deal for the real estate investment trust.

Under the agreed purchase, Urban Logistics' shareholders will receive 0.5612 new LondonMetric shares and 42.8p in cash for each share they held of the soon-to-be taken over company.  The acquisition values each of the trust's shares at 150.3p, representing an approximate premium of 21.8% to the closing price per Urban Logistics share on the 10 April 2025, the last business day prior to the commencement of the offer period.  Urban Logistics REIT to internalise manager as it shakes up board It also represents premia of roughly 27.2% and 31.5% to the three- and six-month volume weight...