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Urban Logistics REIT PLC on Friday said it has received a preliminary, indicative takeover proposal from LondonMetric Property PLC, though there is no certainty that any offer will be made. Urban Logistics is a UK-focused logistics real estate investment trust, while LondonMetric is a FTSE100-listed real estate investment trust. Shares in Urban Logistics were up 4.7% at 129.20 pence at midday on Friday in London, giving the company a total market capitalisation of £600.9 million. Londonmetric was up 0.6% at 180.10 pence, with a market capitalisation of £3.69 billion. In response to recent media speculation, the board of Urban Logistics confirmed it is reviewing the proposal with its advisers. No terms have been disclosed. The company stressed that there can be no assurance that a formal offer will be made or what the terms might be. Shareholders were advised to take no action at this stage. Under the UK Takeover Code, LondonMetric has until 5.00pm on May 9 to either announce a firm intention to make an offer or confirm it does not plan to proceed unless an extension is granted by the takeover panel. The announcement was made without the approval of LondonMetric. Further updates will be provided ‘as appropriate,’ Urban Logistics added. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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