Share Prices & Company Research

Market News

03 Dec 2024 | 09:30

PRS Reit in 'active discussions' with a number of potential buyers

(Sharecast News) - Close-ended real estate investment trust PRS has announced that it is in "active discussions" with potential bidders after the recent revelation that it was considering a sale. PRS said on 23 October that it had started a strategic review to explore various strategic options available to enhance value for shareholders, including a potential sale.

The company then entered into a formal sale process in accordance with Takeover Code rules, which enables conversations with parties interested in making a proposal to take place on a confidential basis.

"Pursuant to the formal sale process, the board is currently in active discussions with a number of interested parties in relation to a potential sale of the company and has made available a dataroom," PRS said on Tuesday.

The company also said it was continuing to explore all other options to maximise value for shareholders, and would provide a further update in the first quarter of 2025.

PRS shares were up 0.6% at 103.8p, having now risen 34% over the past six months.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new portfolio or transferring your portfolio from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.