Praxis withdraws from potential Capital & Regional takeover
Capital & Regional
61.20p
08:10 05/11/24
0.00%
0.00p
Praxis Group announced on Tuesday that it would not proceed with its potential offer to acquire Capital & Regional.
FTSE All-Share
4,476.99
10:20 05/11/24
n/a
n/a
FTSE Small Cap
6,850.26
10:20 05/11/24
n/a
n/a
Real Estate Investment & Services
2,362.11
10:20 05/11/24
0.45%
10.69
The company had announced in July that it was interested in a possible acquisition of the real estate investment trust.
It said the formal withdrawal could be revisited under certain conditions, including securing agreement from Capital & Regional’s board, if another party such as NewRiver REIT made a formal offer, if Capital & Regional initiated certain corporate actions like a Rule 9 waiver or a reverse takeover, or if a significant change in circumstances arose, as determined by the Takeover Panel.
At 0857 BST, shares in Capital & Regional were down 7.43% at 63.88p.
Reporting by Josh White for Sharecast.com.