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The latest announcement is out from Ground Rents Income Fund ( (GB:GRIO) ).
Ground Rents Income Fund plc has received a fourth proposal from Victoria Property Holdings Limited to acquire its entire share capital at an increased price of 37.5 pence per share. Despite the offer being 10.3% higher than the previous proposal, GRIO’s board has rejected it, citing that it materially undervalues the company. The board also declined Victoria Property’s request for an extension to the PUSU deadline and access to additional due diligence, indicating that sufficient information is already available for a fair proposal. The situation leaves uncertainty about any future firm offer, with stakeholders awaiting further developments.
More about Ground Rents Income Fund
Ground Rents Income Fund plc (GRIO) operates in the real estate sector, focusing on the acquisition and management of ground rents. Ground rents are a form of real estate investment typically involving long-term, income-generating property leases. This market focus provides GRIO with a steady stream of income through the management of these leases, appealing to investors seeking stable returns.
YTD Price Performance: 39.64%
Average Trading Volume: 194,371
Technical Sentiment Consensus Rating: Hold
See more insights into GRIO stock on TipRanks’ Stock Analysis page.
