Real estate investment management firm Long Harbour has submitted a bid to acquire PRS REIT.
In a statement, the board of PRS REIT confirmed it had received a non-binding proposal from Long Harbour regarding a possible offer for the entire issued and to be issued share capital of the business.
Under the terms of the offer, shareholders in PRS REIT would be entitled to receive 115p per share in cash.
According to Sky News, Long Harbour has secured backing for the bid from a “major financial investor”.
The REIT said: “Discussions with Long Harbour are ongoing. The board of PRS REIT expects to provide a further update on the formal sale process by the end of June 2025. There can be no certainty that an offer will be made, nor as to the terms of any offer if made. Further announcements will be made in due course.”
