Listed property investor agrees £415m sale of group

An aerial shot of the Mucklow Park site in Tyseley
The board of property group A&J Mucklow has agreed the £415m sale of the business to LondonMetric. The real estate investment trust (REIT) was founded  in the West Midlands 86 years ago and its interests remain heavily focused in the region. The 655.2p-per-share offer will be paid with a mix of £130m cash and shares in the enlarged group worth £285m. Shareholders with a combined stake of 39.35% in Mucklow have already agreed to back the deal, believing the combination creates "more resilient and diversified UK-REI... You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...