Urban Logistics REIT has announced that it has received a preliminary, indicative proposal from LondonMetric Property regarding a possible offer for the company.
The board said that it was reviewing the proposal with its advisers, adding that there can be no certainty that any offer will be made nor as to the terms of any such offer.
A further announcement will be made as appropriate.
In accordance with the takeover code, LondonMetric has until 9 May to either announce a firm intention to make an offer or announce that it does not intend to make an offer.
Urban Logistics’ share price is up 4.5% on the news today.
