The firm advised WHR earlier this month on an initial takeover bid from Wapping Bidco Ltd., a newly formed company indirectly owned by investment funds advised by affiliates of Blackstone.

This competing offer from Tritax values WHR at approximately £485.2 million and represents a significant uplift in the price per share payable to shareholders compared to the Blackstone offer. Like WHR, Tritax is listed on the Main Market of the London Stock Exchange and its offer comprises new Tritax shares as well as cash, enabling WHR shareholders to remain invested in this exciting asset class.

WHR is a UK Real Estate Investment Trust that invests in industrial assets in key economic locations across the UK. It listed in 2017, raising £150m to invest in warehouse assets in the industrial and logistics sector. Since IPO, it has successfully raised a further £275m and has built a highly attractive asset portfolio currently valued at £805.4m.

The Reed Smith team advising on the transaction is led by Global Corporate Group partner Delphine Currie, supported by partner Samantha Myers and associates Kat McGriskin and Alex Pierce. Global Regulatory Enforcement partner Marjorie Holmes and associate Emma Weeden are providing anti-trust advice.

Currie said: “Having worked alongside WHR since their IPO in 2017, we are delighted to see our client generating such interest for the benefit of their shareholders.”

For more information visit warehousereit.co.uk.