AEW Long Lease rethinks its future – AEW UK Long Lease REIT has rejected several takeover approaches and plans to go it alone.
The company received several proposals, but the board concluded none of the proposals reflect the true value of the group. The company said the proposals, in some instances, undervalued certain of the group’s assets or the interested parties were unable to provide certainty of execution, including the availability of new capital.
The company will now implement a cost reduction exercise, with the objective of delivering a fully cash covered dividend, at or close to the original dividend target indicated at the time of the group’s IPO, for the entire financial year ending 30 June 2021.
In the coming period, the board, along with the group’s advisers, will continue to seek longer term solutions to expand the group, including the introduction of new capital, and deliver shareholder value.
Following this announcement, AEW UK Long Lease REIT is no longer considered to be in an offer period.
AEWL : AEW Long Lease rethinks its future
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