UK’s Unite Group bids $976 million for Empiric Student Property
BENGALURU: British student accommodation developer Unite Group has proposed to buy smaller rival Empiric Student Property for about 719 million pounds ($976 million), the companies said on Thursday, the latest in a string of deal-making in the UK. Under the possible offer, shareholders of real estate investment trust Empiric would receive 30 pence in cash and 0.09 new Unite shares for each Empiric share held, for an implied value of 107 pence per share, the groups said. The potential transaction could add to a growing list of deals in the UK and within the country’s REIT industry. Warehouse REIT agreed…