UK’s Long Harbour proposes $852 million bid for PRS REIT
BENGALURU: UK property investor Long Harbour has made a 631.6 million pound ($852 million) takeover proposal for Britain’s PRS REIT at below the market price, sending PRS REIT shares down around 2% on Wednesday. PRS, a real-estate investment trust that has put itself up for sale, said London-based Long Harbour was proposing to offer 115 pence per share in cash, a 3.3% discount to PRS’ closing price of 118.8 pence on Tuesday. The shares hit a record high of 125 pence earlier in the day after Sky News reported the possible offer and said Long Harbour had secured financing to…