CREI shareholders favoured deal
28 March 2024
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3 min read
After the unsuccessful merger between Custodian Property Income REIT (CREI) and abrdn Property Income (API), Liberum analysts have argued CREI should now be considered at risk of a takeover bid.
Yesterday (27 March), shareholders of API voted against a proposed merger of the two property focused portfolios, despite support from both boards for the deal.
Votes at the annual general meeting and court meeting for API failed to clear the 75% threshold needed to approve the resolution, triggering a controlled wind-down of API, which the board had previously stated would be the next step if the merger was not approved.
abrdn Property Income to enter managed wind-down after Custodian merger vote fails
Overall, 98% of CREI’s shareholders had voted in favour of the deal and chair D…
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