{"id":142475,"date":"2021-05-25T17:32:22","date_gmt":"2021-05-25T21:32:22","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&#038;p=142475"},"modified":"2021-05-25T17:32:22","modified_gmt":"2021-05-25T21:32:22","slug":"blackstone-agrees-to-buy-u-k-s-st-modwen-for-1-7-billion","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/blackstone-agrees-to-buy-u-k-s-st-modwen-for-1-7-billion\/","title":{"rendered":"Blackstone Agrees to Buy U.K.\u2019s St. Modwen for $1.7 Billion"},"content":{"rendered":"<h1>Blackstone Agrees to Buy U.K.\u2019s St. Modwen for $1.7 Billion<\/h1>\n<p>May 20, 2021 | Jack Sidders | Bloomberg<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-16312 alignleft\" src=\"https:\/\/qa.bluevaultpartners.com\/wp-content\/uploads\/2017\/09\/20170907_Blackstone_logo-300x118.png\" alt=\"\" width=\"300\" height=\"118\" srcset=\"https:\/\/qa.bluevaultpartners.com\/wp-content\/uploads\/2017\/09\/20170907_Blackstone_logo-300x118.png 300w, https:\/\/qa.bluevaultpartners.com\/wp-content\/uploads\/2017\/09\/20170907_Blackstone_logo.png 600w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>Blackstone Group Inc.&nbsp;has confirmed it will offer 1.2 billion pounds ($1.7 billion) to buy&nbsp;St. Modwen Properties Plc&nbsp;despite opposition from a shareholder insisting the price is too low.<\/p>\n<p>A deal would swell the private equity giant\u2019s vast U.K.\u2019s warehouse portfolio, adding land for future development. Blackstone is offering 542p per share in cash, according to a&nbsp;statement&nbsp;Thursday.<\/p>\n<p>The money manager announced its intention to bid earlier this month and was met with&nbsp;resistance&nbsp;from J O Hambro Capital Management Ltd., which owns just over 9% of St. Modwen. Blackstone\u2019s offer has secured the support of St. Modwen\u2019s board and the family of its founder Stanley Clarke, giving it the backing of holders with a 6.59% stake. The offer will be put to a shareholder vote next month.<\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-ico-before dashicons-text\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-20\/blackstone-agrees-to-buy-st-modwen-properties-for-1-7-billion\" rel=\"noopener\">Read Full Article<\/a><\/p>\n<div style=\"clear:both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Blackstone Group Inc. has confirmed it will offer 1.2 billion pounds ($1.7 billion) to buy St. Modwen Properties Plc despite opposition from&#8230;<\/p>\n","protected":false},"author":2691,"featured_media":23030,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[2934,3010,2710],"tags":[],"class_list":["post-142475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-acquisitions","category-asset-manager-news","category-blackstone"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - 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