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Quintain in the firing line as Lone Star look to pounce with ‘Fair Value’ £700m bid

11th August 2015

Quintain in the firing line as Lone Star look to pounce with ‘Fair Value’ £700m bid

The last 9 months have seen a variety of big name takeover deals, some successful and some that have fallen at the last stage. The biggest, undoubtedly, has been the takeover of Canary Wharf thanks to the combined aggressive pursuit from Brookfields Property Partners and The Qatari Investment Authority. The deal seemed highly unlikely at one point, but was confirmed at 350p per share, far less than the estimated value of 500p+ per share. The chance to sell a highly illiquid asset was too good to turn down. The proposed takeover of GM Real Estate, by Colliers International, was another that grabbed headlines this year. The City based investment firm that has a hand in all the big transactions across the capital it seems, were subject to a £25m bid from the property giants, however this did not cross the line.

It seems the next big takeover of the year is aimed at development firm Quintain, who have been responsible for the regeneration project at Wembley Park. American Private Equity firm, Lone Star, are behind the bid of 131p per share bid, a 22% increase on current valuation of the company. Quintain have advised shareholders to accept. Ollie Salter, surveyor at tenant acquisition specialist Morgan Pryce, believes the proposed price represents a fair deal for both parties,

“The current offer of 131p per share will most probably represent a fairly light long-term valuation of Quintain. However, it provides a 22% increase on current values of the company and frees up resources for future development plans. The deal is a win – win for all involved.”

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.


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