Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. St. Modwen Properties PLC
  6. News
  7. Summary
    SMP   GB0007291015

ST. MODWEN PROPERTIES PLC

(SMP)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

St. Modwen Properties Receives GBP1.21 Billion Takeover Proposal From Blackstone

05/07/2021 | 02:46am EDT

By Joe Hoppe

St. Modwen Properties PLC said Friday that it has received a nonbinding conditional proposal from Blackstone Group Inc. for a cash offer of around 1.21 billion pounds ($1.68 billion).

The U.K. property investor and developer said that Blackstone has made a possible cash offer of 542 pence a share for the entire issued capital of the company--around 222.63 million shares--after a series of unsolicited proposals. The price represents a 21% premium to St. Modwen's closing share price of 448 pence on Thursday and a 24% premium to St. Modwen's 2020 net tangible assets per share.

The possible offer is at a value it would be willing to unanimously recommend if Blackstone announces a firm intention to make an offer, St. Modwen's management said. Any offer is subject to preconditions, including due diligence.

There is no certainty that Blackstone will make a firm offer, and according to the takeover code Blackstone have until June 4 to say it will make a firm offer or walk away.

Blackstone confirmed the possible offer in a separate release.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

05-07-21 0245ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.95% 34196.82 Delayed Quote.10.68%
ST. MODWEN PROPERTIES PLC 0.72% 557 Delayed Quote.37.75%
THE BLACKSTONE GROUP INC. 0.04% 99.62 Delayed Quote.53.65%
All news about ST. MODWEN PROPERTIES PLC
10:50aGLOBAL MARKETS LIVE : Siemens, BHP Group, Visa, JP Morgan Chase, Proximus...
05:19aST MODWEN PROPERTIESá : Blackstone Raises St. Modwen Properties Takeover Offer T..
MT
03:40aBlackstone Increases St. Modwen Properties Offer to GBP1.27 Billion
DJ
02:41aST MODWEN PROPERTIESá : Blackstone raises buyout offer for Britain's St. Modwen ..
RE
06/23FORM 8.3 - THE VANGUARD GROUP, INC.á : St. Modwen Properties plc
DJ
06/23ST MODWEN PROPERTIESá : . Modwen Homes celebrates NHBC Pride in the Job Award wi..
PU
06/21FORM 8.3 - THE VANGUARD GROUP, INC.á : St. Modwen Properties plc
DJ
06/18FORM 8.3 - THE VANGUARD GROUP, INC.á : St. Modwen Properties plc
DJ
06/17ST MODWEN PROPERTIESá : Samson Rock Capital LLP - Form 8.3 - St. Modwen Properti..
PR
06/16FORM 8.3 - THE VANGUARD GROUP, INC.á : St. Modwen Properties plc
DJ
More news
Financials
Sales 2021 40,0 M 55,7 M 55,7 M
Net income 2021 74,8 M 104 M 104 M
Net Debt 2021 324 M 451 M 451 M
P/E ratio 2021 15,9x
Yield 2021 1,51%
Capitalization 1 240 M 1 724 M 1 727 M
EV / Sales 2021 39,1x
EV / Sales 2022 33,5x
Nbr of Employees 600
Free-Float 80,6%
Chart ST. MODWEN PROPERTIES PLC
Duration : Period :
St. Modwen Properties PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ST. MODWEN PROPERTIES PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 5,58 GBX
Average target price 535,00 GBX
Spread / Average Target 9 488%
EPS Revisions
Managers and Directors
NameTitle
Sarwjit Sambhi Chief Executive Officer & Director
Robert Jan Hudson Chief Operating Officer, CFO & Executive Director
Danuta Gray Non-Executive Chairman
Ian Alan Bull Senior Independent Director
Jenefer Dawn Greenwood Independent Non-Executive Director