In QuotedData’s morning briefing 2 June 2025:
- abrdn Asian Income Fund Limited (AAIF) has announced a change to its company name, following shareholder approval at its AGM on 8 May 2025. The company is now officially known as Aberdeen Asian Income Fund Limited, effective from 1 June 2025. The change marks a shift to the fund’s previous branding, aligning it more closely with the latest branding of its investment manager.
- The Takeover Panel has granted an extension to the “put up or shut up” (PUSU) deadline for Blackstone Europe LLP to either make a firm offer for Warehouse REIT (WHR) or walk away. Blackstone had previously submitted a final indicative all-cash proposal of 115p per share in March, adjusted for a 1.6p interim dividend, and was told by the board it would likely support a firm offer on those terms. However, following due diligence, Blackstone raised concerns over asset valuations – specifically regarding Warehouse REIT’s development at Radway Green – and revised its proposal to 110.6p per share (inclusive of the dividend) on 19 May 2025. A committee of independent directors was subsequently formed to consider the revised offer, owing to conflicts of interest for directors linked to Tilstone Partners, the company’s investment adviser. This committee has now indicated it is minded to recommend a firm offer from Blackstone on the revised terms, subject to the agreement of final conditions. To allow time to finalise these, the PUSU deadline has been extended from 30 May to 5:00 pm on 6 June 2025. Any further extension would require consent from both the board and the Takeover Panel. Blackstone has stated that the revised proposal is final, with limited exceptions, including the emergence of a competing offer. It also reserves the right to amend the structure or terms of any offer under certain circumstances.
We also have:
Custodian Property Income REIT makes £22m all-share portfolio acquisition
Stories you may have missed from Friday:
