The likelihood of a takeover battle for Yew Grove REIT lessened today, as a potential rival to an agreed deal walked away.
The Irish investment firm said Quanta Capital had notified the company that it will not make a bid to take it private.
Earlier this month Quanta said it was considering a competing offer to Yew Grove’s recommended offer from Canada’s Slate Office REIT. Slate has bid €1.017 (87p) per share, valuing Yew Grove at almost €128m.
Yew Grove’s London-listed shares fell by 3% to €0.98.
The most sizeable real estate moves among the largest listed property companies were a 2% lift for Berkeley Group, the third-biggest rise in the FTSE 100; and a 2% gain for Crest Nicholson, the eighth-highest rise in the FTSE 250.
The FTSE 100 closed at 7,122, edging down just 0.1%, with the FTSE 250 at 22,646, down 0.2%.
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