The Lemon Fool

Apparently the property specialist paper states that BBOX is to merge with UKCM - RNS expected Monday morning.

Seems a bizarre fit - EBOX would have been a better choice; though of course a departure into Euroland.

Will this yet another merger precipitate a bounce in the weak sector?

Thanks for the heads up SKYSHIP.

I hold BBOX.

Both are down on Friday (though UKCM slightly more).
It will be interesting to see market reaction.

SKYSHIP wrote:Apparently the property specialist paper states that BBOX is to merge with UKCM - RNS expected Monday morning.

Seems a bizarre fit - EBOX would have been a better choice; though of course a departure into Euroland.

Will this yet another merger precipitate a bounce in the weak sector?

I have to admit to being confused. BBOX (Tritax Big Box) & EBOX. Are they the same company?

My ii.co.uk site cannot find EBOX, but finds BOXE (Tritax Eurobox).

Any explanation of these three would be very welcome!

Steve

stevensfo wrote:

SKYSHIP wrote:Apparently the property specialist paper states that BBOX is to merge with UKCM - RNS expected Monday morning.

Seems a bizarre fit - EBOX would have been a better choice; though of course a departure into Euroland.

Will this yet another merger precipitate a bounce in the weak sector?

I have to admit to being confused. BBOX (Tritax Big Box) & EBOX. Are they the same company?

My ii.co.uk site cannot find EBOX, but finds BOXE (Tritax Eurobox).

Any explanation of these three would be very welcome!

Steve

BBOX - Tritax Big Box (UK warehouses)
EBOX - Tritax Eurobox (European warehouses) - quote in GBP
BOXE - Tritax Eurobox (European warehouse) - quote in EUR

So, 2 separate (but related) companies, the European one having 2 listings, one in GBP and one in EUR

RockRabbit wrote:

stevensfo wrote:
I have to admit to being confused. BBOX (Tritax Big Box) & EBOX. Are they the same company?

My ii.co.uk site cannot find EBOX, but finds BOXE (Tritax Eurobox).

Any explanation of these three would be very welcome!

Steve

BBOX - Tritax Big Box (UK warehouses)
EBOX - Tritax Eurobox (European warehouses) - quote in GBP
BOXE - Tritax Eurobox (European warehouse) - quote in EUR

So, 2 separate (but related) companies, the European one having 2 listings, one in GBP and one in EUR

Thanks a million! I was seeing the word 'BOX" everywhere and wondered what was going on.

So a bit like Vodafone? All over the world?

Steve

EBOX would have been a far better target for BBOX. Same logistics specialists. Also EBOX way under-valued on a 43% discount and a 110% covered 5c dividend giving a yield of 8.7%!

Perhaps the next target in the sector; though likely will fall to Private Equity.

SKYSHIP wrote:EBOX would have been a far better target for BBOX. Same logistics specialists. Also EBOX way under-valued on a 43% discount and a 110% covered 5c dividend giving a yield of 8.7%!

Yes, proposed deal makes no sense to me. If the deal goes through, they'll have to rename 'Big Box'. Perhaps call it 'Tritax Big and Mid Box'!

RockRabbit wrote:

SKYSHIP wrote:EBOX would have been a far better target for BBOX. Same logistics specialists. Also EBOX way under-valued on a 43% discount and a 110% covered 5c dividend giving a yield of 8.7%!

Yes, proposed deal makes no sense to me. If the deal goes through, they'll have to rename 'Big Box'. Perhaps call it 'Tritax Big and Mid Box'!

Around two-thirds of UKCM's assets are warehouses, many with "final mile" potential. To me, with my supply chain hat on (I'm a visiting fellow in a supply chain and logistics department at a well-known business school), that does make some kind of sense. It's the other assets that worry me -- student housing, offices, hotels etc. I assume that these will be rotated out of the portfolio, and replaced with logistics assets.

MDW1954

There's an interesting, even slightly worrying, article about this in the Times, suggesting that the motives of a major stakeholder, Phoenix, pushing for this merger may be not fully disclosed.

https://www.thetimes.co.uk/article/warehouse-mega-merger-questioned-over-phoenix-rebates-sj9qjxkwn

It's also been archived: https://archive.md/0MCVk

torata