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RDI REIT early riser after major shareholder makes takeover bid

RDI REIT PLC (LON:RDI) was an early riser on Friday, surging 32% to 120.6p after shareholder Starwood Funds made an offer for the entire company.

Starwood, which currently owns a 29.59% stake, offered 121.35p for the entire issued share capital, which is a 33% premium to Thursday’s closing price.

It values the property investment business at £467.9mln, which is recommended by its board and financial advisers.

Elsewhere, Panthera Resources PLC (LON:PAT) rose 6% to 18p after agreeing a £1.17mln deal to sell its interest in the Tellerhäuser Underground Mine in Saxony, Germany.

The miner will sell its 9.7mln shares in Anglo Saxony Mining Limited (ASM) at a price of 12p per share, in return for a cash payment.

Panthera reported the stake in ASM was valued at 8 cents per share in its last accounts.

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