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Glenstone REIT Secures 86% Stake in Alternative Income REIT Cash Takeover

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AIREGBX 70.00 2.34%

Glenstone REIT PLC has reached 86.13% total ownership and acceptances in its cash takeover offer for Alternative Income REIT PLC (LSE:AIRE). As of October 19, 2026, Glenstone holds or has received valid acceptances for 69,339,566 shares out of the target company's 80,500,000 issued ordinary shares. Investors who accept the takeover receive 70.0 pence per share in cash, following an earlier 1.4 pence quarterly dividend payment that shareholders retained.

The acquisition offer is already unconditional after Glenstone passed the 75% threshold in September 2026. Reaching this milestone allows Glenstone to proceed with canceling the trading of shares on the London Stock Exchange. The target company's board has advised remaining investors to accept the cash offer, noting that delisting will significantly lower share marketability and liquidity for minority holders.

If acceptances reach 90%, Glenstone plans to initiate a statutory squeeze-out procedure to acquire all remaining shares forcibly on the same financial terms and convert the business into a private limited company. If acceptances remain below 90%, Glenstone intends to apply for shares to trade on The International Stock Exchange instead. The offer stays open until Glenstone issues a formal 14-day closing notice.

Key points

  • Glenstone REIT PLC has secured acceptances and shares totaling 86.13% of Alternative Income REIT PLC.
  • Shareholders receive 70.0 pence per share in cash under the unconditional takeover terms.
  • Glenstone REIT plans to delist Alternative Income REIT from the London Stock Exchange.
  • Reaching a 90% target will enable compulsory buyout of remaining shares and private re-registration.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

What is the cash offer price for Alternative Income REIT shares?

Glenstone REIT is offering 70.0 pence per share in cash following the retention of a 1.4 pence quarterly dividend by shareholders.

Will Alternative Income REIT be delisted from the London Stock Exchange?

Yes, Glenstone REIT passed the 75% threshold required to initiate delisting from the London Stock Exchange, which will reduce stock liquidity.

What happens if Glenstone REIT reaches 90% acceptances?

Reaching the 90% threshold allows Glenstone REIT to compulsorily buy out remaining shareholders and re-register the company as a private business.