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Blackstone Raises Warehouse REIT Bid to £489M, Topping Rival

By  |  July 10, 2025
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US private equity giant Blackstone has increased its takeover bid for Warehouse REIT, valuing the UK-listed firm at approximately £489 million ($666 million), according to Reuters. The revised offer surpasses a previously agreed proposal from Tritax Big Box REIT, escalating the competition to acquire the real estate investment trust.

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    The latest bid from Blackstone, revealed Thursday, prices Warehouse REIT shares at 115 pence each—an 8.3% premium over their June 3 closing price. That date marked the eve of Blackstone’s initial bid announcement, which stood at 110.6 pence per share. Per Reuters, the new offer includes 113.4 pence per share in cash, along with a 1.6 pence dividend.

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    In response, Warehouse REIT confirmed it is currently evaluating the enhanced proposal. The company’s stock rose 2.8% by 1009 GMT, marginally surpassing the offer price, indicating that some investors anticipate a continued bidding contest.

    Related: Blackstone Acquires Major Stake in European Warehouse Portfolio

    This marks the latest in a string of acquisitions by U.S.-based investors targeting British assets, capitalizing on relatively depressed UK market valuations. UK-listed real estate firms, in particular, have become prime targets amid economic uncertainty and industry consolidation, Reuters noted.

    Last month, Warehouse REIT accepted a competing cash-and-stock offer from Tritax Big Box REIT that valued the business at around £485.2 million, or 114.2 pence per share. Tritax previously argued that Warehouse REIT’s portfolio would integrate well with its existing operations. Meanwhile, Blackstone has emphasized the strategic value of incorporating Warehouse REIT into its broader logistics holdings.

    Source: Reuters