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Reuters
UK's St. Modwen Properties gets $1.68 billion potential offer from Blackstone
© Reuters/Brendan McDermidFILE PHOTO: FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange
(Reuters) -St. Modwen Properties said on Friday private-equity firm Blackstone Group had made a potential takeover offer, valuing the British property developer at around 1.21 billion pounds ($1.68 billion).
The London-listed company said the possible offer of 542 pence per share in cash was at a premium of about 21% to the stock's last close.
St. Modwen, which has operations in England and South Wales, said its board would be willing to recommend the proposal unanimously should Blackstone make a firm offer at that price by the June 4 deadline.
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Blackstone is currently performing due diligence as the possible offer is subject to certain pre-conditions, it said.
($1 = 0.7192 pounds)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Anil D'Silva)
vendredi 7 mai 2021 11:31:26
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