The purchase, through British Land subsidiary Union Property Holdings Ltd, amounts to £4.04 ($6.20) in cash for each ordinary 50 pence share, £2.02 ($3.10) for each 25 pence share and £4,967.24 ($7,632) for each 'A' ordinary share.
Roger Devlin, Chairman of FRP, said: "We are pleased to recommend the offers, which we believe, as reflected in the irrevocable commitments, represent attractive offers for FRP shareholders. The offers provide for all FRP Shareholders to realise, with certainty, their investment in FRP for cash."
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