abrdn European Logistics Income (ASLI) has said that it has received a number of proposals to acquire the company, after putting itself up for sale in November 2023.
A broad range of preliminary, indicative non-binding proposals have been made to the company, it said. The company added that “there can be no certainty at this stage that the final terms of any proposal will prove to be sufficiently attractive to merit a board recommendation to the company’s shareholders”, although it was encouraged by the progress made to date.
The company’s advisers are actively engaging with a select number of parties to satisfy their due diligence requirements. Further updates will be provided as appropriate.
The company’s fourth quarter dividend, usually declared in February and paid in March, has been been delayed. The board said the decision to forgo declaring the fourth dividend was taken to “ensure that the company is optimally positioned, and that it maintains the maximum flexibility, to allow it to advance any particular proposal”.
Subject to the outcome of the strategic review, the board said that it intends to recommence dividend payments in line with the company’s standard dividend timetable going forward.