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Capital & Regional PLC - London-based real estate investment trust - Says UK Panel on Takeovers & Mergers has given NewRiver REIT PLC until July 18 to make a formal offer for Capital & Regional. The deadline for NewRiver to announce a firm intention to make an offer for Capital & Regional is Thursday. Capital & Regional says it has requested for an extension of the deadline to facilitate ongoing discussions with NewRiver. Says the revised deadline may be extended further at its request.
Late last month, NewRiver said it had made a proposal to Growthpoint Properties Ltd about a potential takeover of Capital & Regional. Growthpoint owns 68% in Capital & Regional. Vukile Property Fund Ltd late last month said it had withdrawn its bid to acquire Capital & Regional, leaving NewRiver as the only declared suitor.
Capital & Regional stock price in London: 62.00 pence
12-month change: up 8.1%
Capital & Regional stock price in Johannesburg: R 14.12
12-month change: up 44%
NewRiver stock price in London: 73.30p
12-month change: down 19%
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