Private equity firm Blackstone Group has made a 1.21 billion pound ($1.68 billion) buyout proposal for St. Modwen Properties, the companies said on Friday, sending shares in the British real estate developer soaring.
Shares in the London-listed firm climbed as much as 20% to 538 pence, just shy of the 542 pence apiece potential offer. They have gained about 30% in the past 12 months.
In February, Blackstone joined forces with former Gatwick owner GIP and Bill Gates’ investment vehicle to buy private jet services firm Signature Aviation for $4.73 billion.
Read more at Reuters
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.