Picton Shareholders Approve LondonMetric, Schroder Real Estate's Takeover Bid

12:08 PM EDT, 09/02/2026 (MT Newswires) -- A majority of Picton Property Income's (PCTN.L) shareholders approved the scheme of arrangement linked to LondonMetric Property (LMP.L) and Schroder Real Estate Investment Trust's (SREI.L) takeover bid at the general meeting held on Wednesday. The transaction remains subject to certain conditions, including the court's sanction of the scheme at a hearing set for Sept. 8. The scheme is expected to take effect on Sept. 10, with cancellation of the real estate investment trust's shares on the London bourse's main market to follow the next day. Under the offer, Picton shareholders will receive 0.190 LondonMetric shares and 0.894 Schroder shares for each Picton share held, valuing the target's entire share capital at 404 million pounds sterling.