Alternative Income REIT plc (LSE:AIRE) has confirmed it has received a possible all-share approach from AEW UK REIT plc that the board believes could offer greater value than the existing bid from Glenstone REIT plc. Under the indicative proposal, Alternative Income REIT shareholders would receive 0.725 AEW UK REIT shares for each AIRE share held, implying a value of approximately 77.4 pence per share and representing a premium to Glenstone’s current cash offer.
The board said it considers the potential proposal from AEW UK REIT to be more attractive in terms of both valuation and governance arrangements. Discussions with AEW UK REIT are continuing as the parties work towards a possible firm offer. In the meantime, shareholders are being advised to reject Glenstone’s offer or withdraw any existing acceptances while no formal proposal has yet been announced and the takeover process under the UK Takeover Code remains ongoing.
Alternative Income REIT continues to benefit from solid operating performance, supported by improved cash generation, a resilient property portfolio and refinancing progress. The company’s valuation also remains attractive, with a relatively low price-to-earnings ratio and a strong dividend yield. Positive share price momentum and recent corporate activity have further strengthened investor sentiment.
More about Alternative Income REIT
Alternative Income REIT plc is a UK-listed real estate investment trust focused on generating sustainable income from a diversified portfolio of commercial property assets. The company seeks to provide shareholders with long-term rental income through carefully selected investments supported by strong tenant covenants.
Its strategy centres on maintaining a resilient property portfolio, preserving capital value and delivering attractive shareholder returns through income generation. The company continues to manage its portfolio actively while pursuing opportunities to enhance long-term value for investors.
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