IN BRIEF: Court sanctions British Land buyout of Life Science REIT

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Life Science REIT PLC - real estate investment trust for UK properties leased to tenants in the life science sector - Court sanctions scheme for takeover of Life Science REIT by British Land Co PLC. Life Science REIT shares are to be suspended on Monday. British Land in January struck a deal to acquire Life Science for £150 million. Life Science REIT shareholders will receive 14.1 pence and 0.07 of a new British Land share for every Life Science REIT share held. At the time, this valued Life Science REIT shares at 42.8p each, as British Land shares closed at 410p each on the day before the deal was announced. Based on British Land’s current share price, the deal puts a roughly 41.8p value on Life Science REIT shares.

Life Science REIT current stock price: 41.60p

12-month change: down 5.5%

British Land Co current stock price: 395.70p

12-month change: up 3.2%

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