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Unitech Corporate Parks : UCP – Cash offer

Unitech Corporate Parks has received a cash offer for Candor Investments – the holding company for its property interests – that values the subsidiary at £205.9m – freeing up enough cash to make a return to shareholders equivalent to 56p per share. Shareholders will have to approve the transaction but the Board is pointing out that the price is a significant premium to the current share price and a premium to the company’s net asset value of 53p.

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