The private equity fund has approached FTSE 250 property developer St Modwen Properties with the takeover offer.
May 07, 2021 at 07:42 AM
1 minute read
Senior Reporter
U.S. private equity giant Blackstone has handed a mandate to Kirkland & Ellis to explore its options for a £1.2 billion takeover of U.K. FTSE 250 property developer St Modwen.
In a statement issued on Friday, Birmingham-headquartered St Modwen’s board said it had “indicated to Blackstone that the possible offer is at a value the board would be willing to recommend unanimously”, should the takeover offer be formalised.
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