U.S. markets close in 22 minutes
  • S&P 500

    4,250.01
    +3.57 (+0.08%)
     
  • Dow 30

    33,944.39
    -1.19 (-0.00%)
     
  • Nasdaq

    14,290.62
    +37.35 (+0.26%)
     
  • Russell 2000

    2,310.65
    +14.70 (+0.64%)
     
  • Crude Oil

    73.28
    +0.43 (+0.59%)
     
  • Gold

    1,775.90
    -1.50 (-0.08%)
     
  • Silver

    25.89
    +0.03 (+0.13%)
     
  • EUR/USD

    1.1926
    -0.0017 (-0.14%)
     
  • 10-Yr Bond

    1.4870
    +0.0150 (+1.02%)
     
  • GBP/USD

    1.3956
    +0.0009 (+0.06%)
     
  • USD/JPY

    110.9960
    +0.3610 (+0.33%)
     
  • BTC-USD

    33,319.08
    +658.71 (+2.02%)
     
  • CMC Crypto 200

    797.32
    -12.87 (-1.59%)
     
  • FTSE 100

    7,074.06
    -15.95 (-0.22%)
     
  • Nikkei 225

    28,874.89
    -9.24 (-0.03%)
     

UPDATE 1-UK's St. Modwen Properties gets $1.68 bln potential offer from Blackstone

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

(Adds details on potential offer)

May 7 (Reuters) - St. Modwen Properties said on Friday private-equity firm Blackstone Group had made a potential takeover offer, valuing the British property developer at around 1.21 billion pounds ($1.68 billion).

The London-listed company said the possible offer of 542 pence per share in cash was at a premium of about 21% to the stock's last close.

St. Modwen, which has operations in England and South Wales, said its board would be willing to recommend the proposal unanimously should Blackstone make a firm offer at that price by the June 4 deadline.

Blackstone is currently performing due diligence as the possible offer is subject to certain pre-conditions, it said. ($1 = 0.7192 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Anil D'Silva)