Home Reit granted takeover deadline extension

As talks with Bluestar remain ongoing

Photo by Maria Ziegler on Unsplash


Home Reit has been granted a sale deadline extension as talks with Bluestar over a potential takeover bid remain ongoing.

The investment firm now has until 5pm on 13 April to either announce a firm intention of an offer for the trust, or to walk away.

The trust first revealed it had received an unsolicited takeover approach from Bluestar on 16 February. The previous deadline for a resolution to those discussions was today (16 March).

In an announcement to the stock exchange, the Home Reit board said: “Shareholders should note that there can be no certainty that an offer will ultimately be made for the company, nor as to the terms on which any firm offer might be made. A further statement will be made as and when appropriate.”

Change in investment policy pondered

On Wednesday, the trust announced it was also considering a number of candidates to replace its investment adviser, Alvarium, while it is also weighing up whether a material change in investment policy is needed to continue as a listed company.

Home Reit aims to invest in the provision of social housing for vulnerable people while targeting “inflation-protected income and capital return” for its shareholders.

Earlier in March, RM Funds announced it had launched a proposal to the Home Reit board to take over as investment adviser. The board said it hopes to conclude the process “as soon as is practicable”.

The embattled trust was removed from FTSE indexes after suspending its shares at the beginning of January due to being unable to publish its annual results.

See also: Home Reit tenants slide into liquidation


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