LONDON (dpa-AFX) - The Board of St. Modwen Properties PLC (SMP.L) has received a non-binding conditional proposal from Blackstone Funds advised by affiliates of The Blackstone Group Inc. regarding a possible cash offer of 542 pence per share for the entire issued and to be issued share capital of St. Modwen. Blackstone has confirmed that the possible offer is not subject to any financing pre-condition.
The Board of St. Modwen has indicated to Blackstone that the possible offer is at a value the Board would be willing to recommend unanimously.
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