In July, property and investment company Praxis Group had confirmed it was considering making an offer for Capital & Regional.
According to the REIT’s website, Capital & Regional has a £373m portfolio with 2.3m sq ft in lettable space.
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However Praxis has since backed out of talks. Today (10th September) the company issued another RNS confirming it had “no intention to make an offer” for Capital & Regional.
No reasoning was given for the decision.
This has caused Capital & Regional’s share price to fall.
Yesterday, its shares had closed trading at £66.14 but the price fell to £62.20 when markets reopened today.
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