Management of Walls & Futures REIT (LON: WAFR) believes that a bid from Virgata Services undervalues the supported housing developer, which is traded on the Access segment of the Aquis Stock Exchange. The share price has drifted downwards this year, and this appears an opportunistic bid.
The unsolicited 50p a share cash offer is well above the price that the shares were trading prior to the announcement but it is a 52% discount to net assets at the end of September 2020.
Virgata initially approached Walls & Futures REIT during February and offered 45p a share, which was immediately rej...
