Takeover approaches for Capco are predicted this year by adviser Peel Hunt.
It believes a concentrated trophy portfolio, such as the £2.6bn Covent Garden estate, could attract foreign capital, particularly with continuing weakness in retail property share prices.
Peel Hunt added in its note, which gives its top M&A and special situations stocks for 2020, that Capco’s diverse shareholder base, compared with those of other REITs such as Shaftesbury, may aid in attracting bid interest – especially if its NAV discount does not close further following the completion of the sale of its Earls Court scheme to APG and Delancey last month.
