Cromwell Property approaches RDI REIT in takeover offer

Australia-based Cromwell Property Group has made an offer to acquire RDI REIT, as part of its strategy to grow its UK and European operations. Cromwell said: “Discussions are ongoing between the parties and a further announcement will be made in due course, but there can be no certainty that a formal offer will be made nor as to the terms of any offer.” RDI has confirmed that it had received an “unsolicited” approach, adding: “There can be no certainty that any offer will be made, nor as to the terms of any such offer. “The board will keep shareholders updated