Blackstone’s Sweetened Bid Gets Backing of Warehouse Board

The board of UK landlord Warehouse REIT Plc has recommended shareholders accept an increased offer for the company made by Blackstone Inc. that topped a proposal by rival Tritax Big Box REIT Plc.

Blackstone’s latest offer is “fair and reasonable,” Warehouse REIT said in a statement Friday. The revised proposal provides shareholders with a “certain all-cash offer” at a premium to Tritax’s cash and share bid, Warehouse REIT chairman Neil Kirton said.