May 23, 2019 / 6:26 AM / 4 months ago

LondonMetric to buy A&J Mucklow in $524 mln deal

May 23 (Reuters) - Warehouse owner LondonMetric Property said on Thursday it had agreed to buy real estate investment trust A & J Mucklow in a cash and stock deal that values the Midlands-based peer at 414.7 million pounds ($524.22 million).

Under the terms of the deal, Mucklow shareholders will be entitled to receive 2.19 new LondonMetric Shares and 204.5 pence in cash, the companies said in a joint statement. ($1 = 0.7911 pounds) (Reporting by Justin George Varghese in Bengaluru; editing by Patrick Graham)

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