Latest news with #EmpiricStudentProperty
Reuters
2 days ago
- Business
- Reuters
UK's Unite Group to buy Empiric Student Property in $860 million deal
Aug 14 (Reuters) - British student accommodation developer Unite Group (UTG.L), opens new tab has agreed to acquire Empiric Student Property (ESP.L), opens new tab, creating a $14 billion student housing giant as UK university enrolments rise. The cash-and-stock deal, which values Empiric at 634 million pounds ($860.6 million), adds to a wave of transactions in the UK real estate investment trust sector, and comes amid a broader surge in takeover bids for British firms. Unite Group mainly provides housing for first-year students at universities across Britain, while Empiric, which operates premium housing under the Hello Student brand, houses returning students. The deal would result in a combined portfolio worth 10.5 billion pounds, with about 75,000 beds. Demand for further education has rebounded in the past three years following a COVID-induced pause, while tightening student visa policies in key markets like the U.S. and Australia are redirecting student interest toward alternative destinations. "More restrictive policy in the UK's main competitor markets, including the U.S. and Australia, is... making the UK a more attractive destination to international students," a Unite spokesperson said in an emailed statement. According to the Universities and Colleges Admissions Service, UK university acceptances have reached a record high in 2025, with international undergraduate acceptances also rising, led by strong demand from China and the U.S. Under the terms of the deal, Empiric's shares would be valued at about 94.2 pence each, excluding dividends, based on Unite's closing share price of 732 pence on Wednesday. Upon completion, Empiric shareholders will own about 10% of the combined group, with existing Unite shareholders holding the remaining 90%. In 2024 Empiric undertook an extensive process to find a joint venture partner, but the search did not result in an agreement on acceptable terms. ($1 = 0.7367 pounds)
Reuters
3 days ago
- Business
- Reuters
UK's Empiric Student Property agrees to Unite's $860.59 million takeover proposal
Aug 14 (Reuters) - British real estate investment trust Empiric Student Property <ESP.L, opens new tab agreed to student accommodation developer Unite Group's (UTG.L), opens new tab 634 million pound ($860.59 million) take over proposal, the companies said on Thursday. ($1 = 0.7367 pounds)
Bloomberg
3 days ago
- Business
- Bloomberg
Unite to Buy Rival Student Landlord Empiric in £723 Million Deal
Unite Group Plc agreed to buy rival student landlord Empiric Student Property Plc in a deal valuing the company at about £723 million ($981 million), the latest evidence of the wave of consolidation sweeping UK real estate. The cash and share acquisition values Empiric at 107.5 pence per share, based on Unite's closing share price of 855.5 pence on June 4, according to a statement Thursday. The company made an initial approach on May 7 before revising its bid to about £710 million in June.
Yahoo
06-06-2025
- Business
- Yahoo
Form 8.3 - Unite Group plc.
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the 'Code') 1. KEY INFORMATION (a) Full name of discloser: Jupiter Fund Management Plc (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of Offeror in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree Unite Group plc (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held: For an opening position disclosure, state the latest practicable date prior to the disclosure 5th June 2025 (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state 'N/A' YesEmpiric Student Property plc 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security: 25p ordinary Interests Short positions Number % Number % (1) Relevant securities owned and/or controlled: (2) Cash-settled derivatives: 638,177 0.13% (3) Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL: 638,177 0.13% All interests and all short positions should be disclosed. Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors' and other employee options) Class of relevant security in relation to which subscription right exists: None Details, including nature of the rights concerned and relevant percentages: None 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. The currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant security Purchase/sale Number of securities Price per unit N/A (b) Cash-settled derivative transactions Class of relevant security Product descriptione.g. CFD Nature of dealinge.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit NONE (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Typee.g. American, European etc. Expiry date Option money paid/ received per unit NONE (ii) Exercise Class of relevant security Product descriptione.g. call option Exercising/ exercised against Number of securities Exercise price per unit NONE (d) Other dealings (including subscribing for new securities) Class of relevant security Nature of dealinge.g. subscription, conversion Details Price per unit (if applicable) None 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state 'none' NONE (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:(i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:If there are no such agreements, arrangements or understandings, state 'none' NONE (c) Attachments Is a Supplemental Form 8 (Open Positions) attached? NODate of disclosure: 6th June 2025 Contact name: Claire Rodway Telephone number: 0203 817 1441 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129. 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Yahoo
06-06-2025
- Business
- Yahoo
Form 8.3 - Empiric Student Property Plc
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the 'Code') 1. KEY INFORMATION (a) Full name of discloser: Jupiter Fund Management Plc (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of Offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree Empiric Student Property plc (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held: For an opening position disclosure, state the latest practicable date prior to the disclosure 5th June 2025 (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state 'N/A' YesUnite Group plc 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security: 5p ordinary Interests Short positions Number % Number % (1) Relevant securities owned and/or controlled: 32,659,757 4.91% (2) Cash-settled derivatives: (3) Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL: 32,659,757 4.91% All interests and all short positions should be disclosed. Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors' and other employee options) Class of relevant security in relation to which subscription right exists: None Details, including nature of the rights concerned and relevant percentages: None 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. The currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant security Purchase/sale Number of securities Price per unit N/A (b) Cash-settled derivative transactions Class of relevant security Product descriptione.g. CFD Nature of dealinge.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit NONE (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Typee.g. American, European etc. Expiry date Option money paid/ received per unit NONE (ii) Exercise Class of relevant security Product descriptione.g. call option Exercising/ exercised against Number of securities Exercise price per unit NONE (d) Other dealings (including subscribing for new securities) Class of relevant security Nature of dealinge.g. subscription, conversion Details Price per unit (if applicable) None 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state 'none' NONE (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:(i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:If there are no such agreements, arrangements or understandings, state 'none' NONE (c) Attachments Is a Supplemental Form 8 (Open Positions) attached? NODate of disclosure: 6th June 2025 Contact name: Claire Rodway Telephone number: 0203 817 1441 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel's website at in to access your portfolio
