BBOX & UKCM - Recommended merger rumour

[SKYSHIP]

Apparently the property specialist paper states that BBOX is to merge with UKCM - RNS expected Monday morning.

Seems a bizarre fit - EBOX would have been a better choice; though of course a departure into Euroland.

Will this yet another merger precipitate a bounce in the weak sector?

[mattman74]

Thanks for the heads up SKYSHIP.

I hold BBOX.

Both are down on Friday (though UKCM slightly more).
It will be interesting to see market reaction.

[stevensfo]

Apparently the property specialist paper states that BBOX is to merge with UKCM - RNS expected Monday morning.

Seems a bizarre fit - EBOX would have been a better choice; though of course a departure into Euroland.

Will this yet another merger precipitate a bounce in the weak sector?

I have to admit to being confused. BBOX (Tritax Big Box) & EBOX. Are they the same company?

My ii.co.uk site cannot find EBOX, but finds BOXE (Tritax Eurobox).

Any explanation of these three would be very welcome!

Steve

[RockRabbit]

Apparently the property specialist paper states that BBOX is to merge with UKCM - RNS expected Monday morning.

Seems a bizarre fit - EBOX would have been a better choice; though of course a departure into Euroland.

Will this yet another merger precipitate a bounce in the weak sector?

I have to admit to being confused. BBOX (Tritax Big Box) & EBOX. Are they the same company?

My ii.co.uk site cannot find EBOX, but finds BOXE (Tritax Eurobox).

Any explanation of these three would be very welcome!

Steve

BBOX - Tritax Big Box (UK warehouses)
EBOX - Tritax Eurobox (European warehouses) - quote in GBP
BOXE - Tritax Eurobox (European warehouse) - quote in EUR

So, 2 separate (but related) companies, the European one having 2 listings, one in GBP and one in EUR

[stevensfo]

I have to admit to being confused. BBOX (Tritax Big Box) & EBOX. Are they the same company?

My ii.co.uk site cannot find EBOX, but finds BOXE (Tritax Eurobox).

Any explanation of these three would be very welcome!

Steve

BBOX - Tritax Big Box (UK warehouses)
EBOX - Tritax Eurobox (European warehouses) - quote in GBP
BOXE - Tritax Eurobox (European warehouse) - quote in EUR

So, 2 separate (but related) companies, the European one having 2 listings, one in GBP and one in EUR

Thanks a million! I was seeing the word 'BOX" everywhere and wondered what was going on.

So a bit like Vodafone? All over the world?

Steve

[SKYSHIP]

EBOX would have been a far better target for BBOX. Same logistics specialists. Also EBOX way under-valued on a 43% discount and a 110% covered 5c dividend giving a yield of 8.7%!

Perhaps the next target in the sector; though likely will fall to Private Equity.

[RockRabbit]

EBOX would have been a far better target for BBOX. Same logistics specialists. Also EBOX way under-valued on a 43% discount and a 110% covered 5c dividend giving a yield of 8.7%!

Yes, proposed deal makes no sense to me. If the deal goes through, they'll have to rename 'Big Box'. Perhaps call it 'Tritax Big and Mid Box'!

[MDW1954]

EBOX would have been a far better target for BBOX. Same logistics specialists. Also EBOX way under-valued on a 43% discount and a 110% covered 5c dividend giving a yield of 8.7%!

Yes, proposed deal makes no sense to me. If the deal goes through, they'll have to rename 'Big Box'. Perhaps call it 'Tritax Big and Mid Box'!

Around two-thirds of UKCM's assets are warehouses, many with "final mile" potential. To me, with my supply chain hat on (I'm a visiting fellow in a supply chain and logistics department at a well-known business school), that does make some kind of sense. It's the other assets that worry me -- student housing, offices, hotels etc. I assume that these will be rotated out of the portfolio, and replaced with logistics assets.

MDW1954

[torata]

There's an interesting, even slightly worrying, article about this in the Times, suggesting that the motives of a major stakeholder, Phoenix, pushing for this merger may be not fully disclosed.

https://www.thetimes.co.uk/article/warehouse-mega-merger-questioned-over-phoenix-rebates-sj9qjxkwn

It's also been archived: https://archive.md/0MCVk

torata