Blackstone (BX) subsidiary Blackstone Europe and Sixth Street Partners said Monday that certain of their managed funds recently made an all-cash proposal to acquire Warehouse REIT for 470 million pounds ($596.5 million), which it rejected.
The two companies sent their offer of 110.5 pence per share on Feb. 23 and the real estate investment trust's board rejected it on Feb. 28. This was their fourth buyout proposals, according to the statement.
The offer represented a 34.1% premium on the REIT's closing price on Feb. 28 and was inclusive of its interim dividend of 0.016 pounds per share declared on Feb. 19, the companies said.
Price: 158.69, Change: -2.47, Percent Change: -1.53
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