May 23, 2019 / 7:49 AM / a month ago

BUZZ-A & J Mucklow: Soars on LondonMetric's $524 mln takeover offer

** Shares of real estate investment trust A & J Mucklow +18.7% to 650 pence after warehouse owner LondonMetric Property said it looks to buy the Midlands-based peer

** LondonMetric Property said it had agreed to buy A & J Mucklow in a cash and stock deal that values the target at 414.7 mln pounds ($524 mln)

** The cash and stock terms values each Mucklow share at 655.2 pence, the companies said, which represents a 19.6% premium to the company’s close on Wednesday

** Stock rises as much as 19.5% to 655 pence, in line with the offer price (Reporting by Justin George Varghese in Bengaluru)

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