Unite Group PLC has agreed to acquire Empiric Student Property plc through a cash and share offer. Each Empiric share will be exchanged for 0.085 new Unite shares and 32 pence in cash, valuing each Empiric share at approximately 94.2 pence. The total acquisition values Empiric at around 634 million pounds. After the completion of the deal, Empiric shareholders will own approximately 10 percent of the enlarged Group, while Unite shareholders will hold about 90 percent. This agreement marks a significant development in the student property sector.

Read more at Nasdaq: Unite To Acquire Empiric | Nasdaq