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Trusted media brand of the Chartered Institute of Housing
Trusted media brand of the Chartered Institute of Housing
Listed developer agrees to £500m cash offer by charitable foundation
Urban & Civic is set to be bought by charitable foundation the Wellcome Trust after the board of the developer announced it had accepted a £506m bid from the charity.
The listed developer of large scale new communities said in a joint statement with the Wellcome Trust that it was unanimously recommending shareholders back the offer of 345p for each share in the business – a premium of two thirds to yesterday’s stock exchange closing price.
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