Real estate investment trust SEGRO’s offer for Tritax EuroBox has lapsed, after the firm agreed a deal with fellow bidder Brookfield to split Tritax’s portfolio in a €470m deal.
In a stock exchange announcement this morning (18 November), the SEGRO board confirmed the offer for Tritax had lapsed.
Last week, Brookfield and SEGRO announced they had signed heads of terms on a deal, which will see SEGRO buy six assets in the Tritax EuroBox portfolio following completion of its sale to Brookfield.
The two firms had previously placed rival bids for the Reit.
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Brookfield announced it had reached agreement on a cash acquisition for Tritax EuroBox on 10 October. On 12 November, the Tritax EuroBox board unanimously recommended that shareholders vote in favour of the acquisition.
Shareholders will vote on the deal on 20 November. If approved, the deal will see Tritax shareholders receive 69p per share.
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