London & Stamford To Buy Fellow UK REIT In £209M Deal

Law360, New York (November 9, 2012, 3:03 PM EST) -- Real estate investment trust London & Stamford Property PLC has agreed to buy fellow REIT Metric Property Investments PLC in an all-share deal valuing Metric at about £209 million ($334 million), the companies announced Friday.

The boards of directors of both firms recommended that shareholders approve the deal, which would give Metric shareholders 0.94 new ordinary shares in London & Stamford for each of their Metric shares, giving Metric investors 25 percent of the combined company.

It would also create a much larger REIT by combining...
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