Glenstone REIT PLC has raised its cash offer for Alternative Income REIT PLC to 70 pence per share, following a reduction from the initial 71.4 pence proposal. The adjustment reflects the 1.4 pence per share dividend AIRE paid on August 15, 2026, which Glenstone had factored into its original terms.
The revised offer remains open until 1:00 p.m. on September 4, 2026, under the City Code on Takeovers and Mergers. Shareholders have been urged to submit acceptance instructions through their respective platforms, including Hargreaves Lansdown, Interactive Investor, and AJ Bell, before the closing date.
AEW UK REIT PLC, which announced a possible all-share offer for AIRE on July 16, 2026, must either formalize its bid or withdraw by the end of this week. The competing proposal has added complexity to the takeover process, though Glenstone retains the right to adjust its financial terms if a firm third-party offer emerges.
Share-dealing platforms are now processing acceptances, with some setting internal deadlines in the week beginning August 31 to ensure timely submissions. Acceptance figures reported daily reflect submissions received by the receiving agent, as platforms typically aggregate client instructions closer to the final deadline.
The transaction is structured as a contractual takeover, requiring individual shareholders to register acceptance instructions with their platforms to finalize the deal.
