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UK: Shareholders reject GBP1.6 bl property merger

Posted on 10 August 2010

From Reuters: Independent shareholders have voted down a controversial merger of two of Britain’s largest property trusts by a whisker, blocking the creation of the sixth-largest property company with assets of about 1.6 billion pounds.
The proposed takeover of F&C’s Commercial Property Trust by Ignis Asset Management’s UK Commercial Property Trust failed to win support from a majority of independent investors, ending a three-month struggle for power from the deal being first outlined in April……………………………………….Full Article: Source

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