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Capital & Regional PLC said on Thursday its suitor NewRiver REIT PLC will have more time to make formal takeover offer. NewRiver now has a new put-up-or-shut-up date of September 26, extended from Thursday this week. To allow the discussions with NewRiver to continue, Capital & Regional said it had requested, and the UK’s Panel on Takeovers & Mergers has consented to, an extension to the date by which NewRiver is required to either announce a firm intention to make an offer for the company. NewRiver has expressed interest in acquiring the London-based real estate investment trust. On Tuesday this week, Praxis Group Ltd, a privately owned property company that specialises in shopping centres in the UK, abandoned its bid to takeover Capital & Regional. NewRiver said late in May it had made a proposal to Growthpoint Properties Ltd about a potential takeover of Capital & Regional. Growthpoint owns 68% of Capital & Regional. Vukile Property Fund Ltd late in May withdrew its bid to acquire Capital & Regional, for a moment leaving NewRiver as the only declared suitor. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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