Wellcome Trust snaps up Urban & Civic

By Joey Gardiner2020-11-06T13:31:00

Listed developer agrees to £500m cash offer by charitable foundation

Urban & Civic is set to be bought by the Wellcome Trust after the board of the developer announced it had accepted a £506m takeover bid from the charity.

The listed developer of large-scale new communities said in a joint statement with the Wellcome Trust that it was unanimously recommending shareholders back the offer of 345p for each share in the business.

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