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The UK Competition & Markets Authority on Tuesday invited comments on Unite Group PLC’s proposed acquisition of Empiric Student Property PLC, as it began its information-gathering process. The regulator said the invitation to comment is the first step ahead of a potential formal investigation into the deal. Submissions must be made by September 30. The CMA said it is seeking input from interested parties on the possible impact of the transaction on competition in the UK. Both firms are UK-based student accommodation providers and have been in talks since Bristol-headquartered Unite first approached London-based Empiric in May. In August, Empiric agreed to the offer, under which shareholders will receive 0.085 of a new Unite share plus 32 pence in cash, valuing each Empiric share at about 94.2 pence, or £634 million in total. Including dividends, the deal values Empiric at 107.5 pence per share, or £723 million. Court and general meetings to approve the transaction are scheduled for October 6. Empiric shareholders will own 10% of the combined firm. The deal is subject to at least 75% approval from shareholders. Empiric’s directors, whose collective stake is around 0.06%, have committed to vote in the deal’s favour and have recommended other shareholders do the same. Shares in FTSE 100-listed United were up 0.3% at 718.68 pence in London on Tuesday morning for a total market capitalisation of £3.52 billion. Empiric Student Property rose 0.6% to 91.40 pence for a market cap of £607.1 million on the FTSE 250 index. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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