Alternative Income REIT confirms takeover approach from AEW UK REIT

(Sharecast News) - Alternative Income REIT (AIRE) confirmed on Tuesday that it has received an indicative, non-binding proposal from AEW UK REIT about a possible all-share takeover. Responding to press speculation, AIRE said it was evaluating the possible offer with its financial and legal advisers, and a further announcement will be made as and when appropriate.

"There can be no certainty that an offer will be made, nor as to the terms of any such offer," it said, adding that shareholders are advised to take no action.

Under UK takeover rules, AEW has until 21 April to either announce a firm intention to make an offer or walk away.

At 1600 GMT, AIRE shares were up 3.5% at 74.50p, while AEW shares were down 1.6% at 100.60p.

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