St Modwen to agree £1.2bn offer from Blackstone

By Joey Gardiner2021-05-21T04:55:00

Board of listed developer to recommend sale to shareholders

US fund management giant Blackstone has formally issued a £1.2bn bid for listed housing and logistics developer St Modwen, two weeks after the firms revealed they were in discussions over a deal.

The offer, of 542p per St Modwen share, is being unanimously recommended to shareholders by the board of St Modwen, with Blackstone also having already received the support of another major shareholder.

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