Blackstone is poised to win a battle for Warehouse Reit, after the listed UK landlord said it would switch its shareholder recommendation to an offer from the US investment group over a rival bid from Tritax Big Box Reit.
Warehouse Reit said on Friday it was changing its endorsement after Blackstone confirmed it would allow shareholders to receive a dividend from Warehouse, which will be paid this month.
The latest Blackstone offer amounts to 115p cash a share and values Warehouse at about £489mn. Tritax had offered a cash and stock deal worth around £485.2mn.
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