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Unite Group PLC’s takeover of Empiric Student Property PLC was approved by shareholders of the latter at a meeting on Monday. In August, Empiric agreed to the offer, under which shareholders will receive 0.085 of a new Unite share plus 32 pence in cash. At the time, it valued each Empiric share at about 94.2 pence, or £634 million in total. Including dividends, the deal valued Empiric at 107.5 pence per share, or £723 million. Both firms are UK-based student accommodation providers. The acquisition was approved at a court and general meeting on Monday. Just under 71% of votes in the court meeting gave the deal the green light. The general meeting saw just over 86% approve the buyout. Last month, the UK Competition & Markets Authority invited comments on the student property tie-up. Empiric added on Monday: ‘Completion of the acquisition remains subject to the satisfaction (or, where applicable, waiver) of the remaining conditions set out in the scheme document, including the CMA condition and the sanction of the scheme by the court at the court hearing, which is expected to take place in the first half of 2026.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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