RTR: Brookfield to buy Tritax EuroBox for $1.44bn, sparking potential takeover battle

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REUTERS reports:

Canada’s Brookfield Asset Management will buy European logistics real estate firm Tritax EuroBox, the companies said on Thursday, the latest sign of booming investor interest in warehouses and distribution centres.

The deal, for 1.1 billion pounds ($1.44 billion) including debt, could kick off a bidding war for Tritax EuroBox, which backed last month an all-share takeover deal by British warehouse owner Segro.

Tritax said on Thursday it planned to withdraw its backing for the Segro offer and support the Brookfield bid instead.

Segro said its all-stock offer would enable Tritax EuroBox shareholders to retain exposure to the European industrial and logistics sector, or later cash in on their holdings given the “significant liquidity” in the FTSE 100 company’s shares…

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