- LondonMetric Property
- 24 March 2026 13:13:36
Source: Sharecast
Picton, which is currently in the middle of a strategic review and formal sale process, announced earlier this month that it had received proposals from a wide range of interested parties with a variety of structures and funding sources.
"The board is progressing with a shortlisted number of these proposals, and confirms that a consortium comprising of LondonMetric Property PLC and Schroder Real Estate Investment Trust Limited…is one of the interested parties," it said.
Picton said the consortium has not made a firm offer and there can be no certainty that one will be made, nor as to the terms of any offer. "The company will update the market as and when appropriate," it added.
LondonMetric and SREIT said in a statement that discussions are at an early stage and that on 4 March, it submitted an indicative, non-binding proposal to the Picton board.
Should a firm offer be made, the consortium expects it would be structured as an all-share offer, under which Picton shareholders would receive both new LondonMetric and SREIT shares in proportions that reflect the respective interests of each in the underlying assets of Picton.
"The consortium believes the possible all-share offer would provide Picton's shareholders with an opportunity to realise an accelerated return on their investment in Picton whilst rolling their holdings into two market leading UK listed REITs of scale," it said.
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