LondonMetric, Schroder Real Estate Agree GBP404 Million All-stock Takeover of Picton Property

03:33 AM EDT, 07/31/2026 (MT Newswires) -- Picton Property Income (PCTN.L) agreed to the revised all-share takeover offer by LondonMetric Property (LMP.L) and Schroder Real Estate Investment Trust (SREI.L), valuing the target at 404 million pounds sterling. Under the recommended offer, Picton shareholders will receive 0.190 LondonMetric shares and 0.894 Schroder shares for each Picton share held, according to a Friday filing. Upon completion, Picton shareholders would own a 4% stake in LondonMetric and a 48.4% interest in Schroder. Picton's directors intend to unanimously recommend that shareholders vote in favor of the offer at the court and general shareholders' meetings.