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Private equity giants Blackstone has increased its takeover offer for London-listed property development and The post Private equity giants Blackstone up St Modwen Properties offer to £1.27 billion first appeared on Trading and Investment News .
UK DISCLOSURE, June 25, 2021 (GLOBE NEWSWIRE) -- FORM 8.3
British shareholders are 2-0 up against private equity suitors this week. On Friday London-listed UDG Healthcare (UDG.L)said buyout firm Clayton, Dubilier & Rice may sweeten its offer for the pharmaceutical services company to 10.80 pounds per share, valuing it at 2.7 billion pounds. UDGs board recommended a bid worth 10.23 pounds per share in May, but shareholder Allianz Global Investors argued it was too cheap. On Thursday Blackstone (BX.N) bumped up its offer for British housebuilder St Modwen Properties (SMP.L) to 560 pence per share, from 542 pence .
Blackstone is led by Stephen Schwarzman (pictured with wife Christine). St Modwen caught its eye because of its many warehouses and huge tracts of land where it can build more.
Shareholders accept higher offer in latest raid from wealthy US private equity giants
St Modwen Properties (SMP.L) investors would be wise to put themselves in the shoes of the average home-seller. The owners of the 1.2 billion pound house-builder resisted an initial 542 pence per share offer from buyout house Blackstone (BX.N), arguing it undervalued the company. The negotiating tactic has clearly worked - Blackstone is back with a sweetened 560 pence bid amounting to a 25% premium to the British property companys shares before the first approach .
Blackstones £1.3bn offer is latest example of cash-rich foreign investors swooping on UK firms
St Modwen Properties has accepted a 560p per share takeover offer by Blackstone.
Private equity firm Blackstone has offered to pay £50m more for property developer St Modwen, bringing its total takeover offer to £1.25bn.
Blackstone now has over $196bn of property assets under management Blackstone, the private equity company, has finalised a £1.2bn to takeover of UK property investment company St Modwen. The deal, first announced in May, will see Blackstone fork out 542p per share for the developer, a 21% premium on its closing price on May 6.  The post Blackstone completes £1.2bn takeover of property developer St Modwen appeared first on UK Investor Magazine .
Private equity firm Blackstone has secured a £1.2bn deal to buy British property investment and development group St Modwen.
Chancerygate is set to open an office in Bristol as the industrial developer and asset manager seeks to further grow its activity throughout the South West and into South Wales.
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