Tritax EuroBox (BOXE)

[RockRabbit]

RNS from Brookfield

And from BOXE

The Board of Tritax EuroBox plc ("Tritax EuroBox" or the "Company") notes the announcement by Brookfield Asset Management ("Brookfield") that it is in the early stages of assessing a possible cash offer for the entire issued and to be issued share capital of Tritax EuroBox (the "Possible Offer").

The Board of Tritax EuroBox confirms that it has not received a proposal from Brookfield.

There can be no certainty that any firm offer will be made by Brookfield nor as to the terms of any such offer.

A further announcement will be made as appropriate. In the meantime, shareholders are advised to take no action.

In accordance with Rule 2.6(a) of the Code, Brookfield must by no later than 5.00 pm (London time) on 1 July 2024, either announce a firm intention to make an offer for Tritax EuroBox in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Tritax EuroBox, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can only be extended with the consent of the Panel on Takeovers and Mergers (the "Panel") in accordance with Rule 2.6(c) of the Code.

Pleased to see that if this materialises it will be a cash offer, not yet another paper swap.

[SKYSHIP]

Well, I'd sold out of EBOX (see my earlier post); but had bought back in on the fall to 55p. Though only a half allocation.

Anyway, the tentative offer situation is a bit of a game-changer; though the Market seems rather sceptical to say the least.

One can still buy at 60p, even though Brookfield may be coming in with an offer which would most certainly have to be 20% higher than we were at Friday's close.

IMO they will make an offer at a 10% NAV discount, ie c74p. That will be considered lowball by many; but why offer more? I reckon the vast majority of shareholders will be happy to cash in and move on.