Slaughter and May is advising Landsec on its recommended cash offer for U+I

Slaughter and May is advising Land Securities Group PLC (Landsec) on the recommended cash offer by Land Securities Development Holdings Limited, a newly-formed company indirectly owned by Landsec, for the entire issued and to be issued ordinary share capital of U and I Group PLC (U+I). The proposed acquisition was announced on 1 November 2021.

Under the terms of the acquisition, U+I shareholders will be entitled to receive 149 pence for each U+I share in cash. The acquisition values the entire issued and to be issued ordinary share capital of U+I at approximately £190 million on a fully diluted basis and is expected to complete in December 2021 or in early 2022.

Landsec is one of the leading real estate development and investment companies in the United Kingdom. Landsec owns and manages some of the most successful real estate assets across the United Kingdom - its combined portfolio of retail, leisure, workspace and residential hubs spans 23.5 million sq. ft. and is valued at £10.8 billion.

Slaughter and May is supporting Landsec’s in-house legal team led by Alex Peeke (Head of Legal) and Liz Miles (Head of Governance and Company Secretary).

Corporate
Richard Smith Partner
Valerie Kemp Associate
Philippa Mosley Associate

Jake Jones / Trainee, Henry Alexander / Trainee, Helen Byrne / Trainee, Adrian Burbie / Trainee, Miles Mason / Trainee, William Taylor / Trainee

Finance
Ed Fife Partner
Claire Cooke Partner
Christopher McCabe Associate

Adam Waring / Trainee

Pensions, Employment and Incentives
Ian Brown Senior Counsel
Philippa O'Malley Associate
Chloe Sanderson Associate
Real Estate
Ben Redding Associate
Emma Reynolds Associate
Competition
Murray Reeve Associate

Rosie Duthie / Trainee