There's a bit of takeover excitement in the property world this morning, as Segro has just announced it is in talks about an all share deal to snap up endebted industrial landlord Brixton.
This follows a statement from Brixton saying it was in talks "with a small number of parties" after it had received several preliminary approaches. Brixton, which owns property close to Heathrow airport, has been focussed on selling assets to relieve its debt burden and has not yet tapped shareholders for cash. Rival Segro, on the other hand, raised £524m in a 12 for one rights issue in March.
Today's news has seen Brixton's shares jump 8.75p to 58.5p, valuing the company at around £170m. Segro meanwhile has added 1.5p to 26.5p.
