Deadline extended for Blackstone’s Warehouse REIT bid

Blackstone has been given a fresh deadline by which to make a planned £489m takeover offer for Warehouse REIT. The target said in late March that its board is likely to recommend such an offer to shareholders if it is made.  Blackstone’s deadline for making a bid was then extended until 5pm on 28 April. Warehouse REIT has now agreed with the Takeover Panel a new deadline of 5pm on 12 May. The private equity firm had earlier said of its proposal: “Blackstone believes the final indicative proposal provides a highly deliverable and compelling alternative to shareholders, attributing a full valuation for the company and its future prospects.” Image © Buffik/Pixabay