Partner Article
Grainger deal edges closer
THE UK’s largest residential landlord, Grainger, has reached an agreement in principle to acquire a firm which owns and manages £500m worth of properties.
Under the preliminary agreement between the Newcastle plc and Bedford-based Sovereign Reversions, the expected consideration payable would be 202p per Sovereign share in cash.
The offer may be implemented by offer to all shareholders of the business or by a scheme of arrangement.
In December, Bedford-based Sovereign’s interim results for the six months ended 31 October 2009 said that loss for the period was £978,000.
This was posted in Bdaily's Members' News section by Ruth Mitchell .
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