Shares in Hibernia REIT leapt by more than a third today, bringing them in line with an agreed takeover offer announced by Brookfield this morning.
Under the terms of the deal, Hibernia shareholders will receive €1.634 (£1.35) per share, valuing the company at just over €1bn. The shares jumped by almost 37% to close at 134.5p.
With the FTSE 100 edging up just 0.2% during the day, the index’s three big REITs all outperformed and made it into the London Stock Exchange’s top risers – British Land up by 2.85%, Landsec by 2.4% and SEGRO by 2.05%.
In the FTSE 250 – which finished the day up by 0.3% – Hammerson and Capital & Counties were among the day’s biggest gainers.
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