Comment

Colm Lauder: Why the market welcomes failure of a rare UK property deal

Shareholders in Abrdn believe that warmer underlying conditions means an alternative deal offers better value than a merger with Custodian

The roller-coaster continued for Abrdn’s share price as rival bids were placed, recommended, and votes canvassed

In a year in which the consolidation trend within the UK real estate investment trust (Reit) and listed property company sector has been dominant, it was interesting to see a shareholder challenge to what many in the industry assumed was a done deal in a market starved of liquidity.

This failed transaction is now driving a reassessment of company valuations in the sector, with some shareholders questioning how pricing in these M&A transactions has been ...