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Balanced Commercial Property trust agrees to £670m takeover offer by Starwood
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Under the terms of the deal, shareholders will receive 96p in cash for each BCPT share, which represents a premium of around 21.5% to the closing price of 79p per share on 12 April, the trust said in a stock exchange notice today (4 September). The offer, tabled by Starlight Bidco on behalf of funds from $115bn private investment firm Starwood, also represents a discount of around 8.7% to BCPT's last reported net asset value per share of 105.1p as at 30 June. The deal follows a strategic review launched in April to explore all possible options for the trust, including a sale, merger,...
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