Warehouse REIT PLC has called off discussions for the acquisition of a £460 million industrial-asset portfolio from Hansteen Holdings PLC after the two parties were unable to agree on the terms of the agreement.
Talks for the deal began in late July, when Warehouse REIT said that the purchase could involve a reverse takeover under the London bourse's rules for companies. This was refuted by Hansteen, which separately said that any deal will not result in a takeover of the company or acquisition of its shares by the real estate investment trust.
Trading in Warehouse REIT's shares had been suspended due to the proposal. The suspension was lifted Sept. 6, 7:30 a.m. London time.