Shareholders Reject £1.6B FCPT, UKCPT Merger

Law360, New York (August 10, 2010, 3:08 PM EDT) -- The independent stockholders of British property investment trusts F&C Commercial Property Trust Ltd. and UK Commercial Property Trust Ltd. have narrowly voted to reject a proposed merger of the two that would have created a property company with a market value of £1.6 billion ($2.5 billion).

About 70 percent of independent shareholders turned out to vote on the deal Monday, with 50.07 percent against the deal and 49.93 percent in favor, according to F&C.

Independent shareholders who are not parties related to the companies represent about...
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