Industrials REIT Ltd (LSE:MLI, JSE:MLI) saw its shares rally 37% higher to 163p on Monday morning after it said it has reached an agreement with Blackstone on the key financial terms of a final cash offer for the company.
Under the terms, Industrials REIT shareholders will receive 168p per ordinary share in cash, representing a 42% premium to the closing share price on 31 March 2023, and a 40% premium to the one-month volume weighted average.
The board of Industrials has indicated to Blackstone that it intends to recommend the financial terms to its shareholders.