The board of Capital & Regional has recommended that shareholders accept a £147m offer from NewRiver REIT.
NewRiver has offered 31.25p in cash and 0.41946 new NewRiver shares for each Capital & Regional share.
The deal would create a £900m retail portfolio of 29 shopping centres and 13 retail parks. Capital & Regional said it would improve share liquidity for investors, give the company access to “cheaper and more flexible sources of capital” and give the company larger weightings in key indices.
