Capital & Regional PLC (LSE:CAL) jumped 16% to 60p as the county town shopping centre owner said it had received two potential takeover approaches.
Vukile Property Fund has sounded out C&R about a cash and share takeover, but it is a non-binding indicative proposal.
Capital & Regional’s board said the offer process is still at an early stage with no certainty of one being made.
Separately, Capital & Regional added its majority shareholder, Growthpoint Properties, had received a preliminary expression of interest from NewRiver REIT over an offer for the whole of C&R.
“The Board of NewRiver believes that a combination with Capital & Regional, on the terms of the possible offer proposed to Growthpoint, would be significantly accretive to NewRiver's earnings and result in a pro-forma Loan to Value ratio that is broadly in line with NewRiver's guidance,” C&R said.
Here again, no offer has been made and there is no certainty one will be made said the statement.