St Modwen’s shares saw a 2.06% hike today after Blackstone tabled a £1.2bn take-private bid.
The company climbed from 534p to 545p, exceeding Blackstone’s offer price of 542p and fuelling speculation of a potential rival bid.
Shareholders that own 6.59% of St Modwen have said they will vote in support of the acquisition, which is expected to complete in July.
Landsec, meanwhile, climbed by 1.64% to 719p. The FTSE 100 REIT’s share price has been spiky this week, following a trading update that revealed its biggest annual loss since the GFC, 12 years ago.
Today, chief executive Mark Allan purchased almost 21,000 shares at 708p, making a £148,500 investment.
Online estate agency Purple Bricks fell by 5.7% to 91p, despite revealing ongoing growth in instructions, with a furlough money paid back and earnings “in line with current market expectations”.
The FTSE 100 rose 1% to 7,020 and the FTSE 250 was up by 0.71% to 22,392.
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