McKay Securities was among the best-performing REIT on London’s stock exchange today, after receiving a takeover approach from Slate Asset Management.
Shares in the REIT, which specialises in office and industrial properties in the South East, rose by 4.6% to 297p.
A possible all-cash offer from Slate has cast doubt on Workspace’s £272m deal to buy McKay.
Workspace ended the day flat at 696p. Earlier this month, the flexible offices provider agreed to pay a mix of cash and shares to acquire McKay.
Hammerson posted the biggest share price increase compared with its REIT peers. Its shares were up 6.6% at 34.3p.
Yesterday (28 March), it emerged that BlackRock has upped its holding in the REIT to 6.55%, from 6.41%.
The FTSE 100 finished the session up 0.9%, at 7,537 points. The FTSE 250 was up 2% at 21,491.
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