Published: July 19, 2024 at 10:25 a.m. ET
By Adria Calatayud
Capital & Regional said it granted access to due-diligence information to property investment and management company Praxis Group to consider a possible cash takeover offer.
U.K. shopping center owner Capital & Regional, which in May received a takeover approach from NewRiver REIT, said Friday that Praxis hasn’t made any…
By Adria Calatayud
Capital & Regional said it granted access to due-diligence information to property investment and management company Praxis Group to consider a possible cash takeover offer.
U.K. shopping center owner Capital & Regional, which in May received a takeover approach from NewRiver REIT, said Friday that Praxis hasn’t made any proposal relating to a possible offer, including as to terms or price.
Praxis separately said it is in the early stages of considering whether to make a cash offer for Capital & Regional, which had a market capitalization of 151.9 million pounds ($196.6 million) as of Thursday’s close.
NewRiver received an extension from the U.K. Takeover Panel to the deadline by which it must either make a firm offer for Capital & Regional or walk away to Aug. 15 to allow for further talks, Capital & Regional said Thursday.
At 1419 GMT, shares in Capital & Regional were up 1.7% at 65.20 pence.
Write to Adria Calatayud at adria.calatayud@wsj.com