Picton Property Income’s shareholders have approved its takeover by LondonMetric and Schroder REIT.
The deal was formally agreed on 31 July 2026 by the boards of trusts involved, and has now been signed-off by shareholders.
The acquisition is being carried out via scheme of arrangement, which meant 75% of shareholders had to vote and a majority of them being in favour in order to proceed with the deal.
The scheme is set to become effective on 10 September 2026, marking the formal completion of the takeover. Picton shares will be suspended and the trust delisted from the London Stock Exchange
The all-share deal sees Picton shareholders receive 0.894 Schroder REIT shares and 0.190 LondonMetric shares per share.
This represents a premium of approximately 7% to the Picton share price of 73.5p before news of the deal broke.
Picton shareholders will hold 4% of the share capital of LondonMetric and 48.4% of Schroder REIT.
See also: Schroder REIT and LondonMetric reach £404m deal for Picton
