The Blackstone Group International Partners LLP entered into a non-binding conditional proposal to acquire St. Modwen Properties PLC (LSE:SMP) from J O Hambro Capital Management Limited and others for £1.2 billion on May 6, 2021. The Blackstone Group International Partners LLP reached agreement to acquire St. Modwen Properties PLC from J O Hambro Capital Management Limited and others on May 20, 2021. The consideration comprises of a cash offer of £5.42 per share for the entire issued share capital of St. Modwen. As of June 24, 2021, the offer price was changed to £5.6 per share. The cash consideration payable to the St. Modwen Shareholders under the terms of the Acquisition will be financed by equity to be invested by Blackstone Funds. In connection with the financing of Bidco, Blackstone Funds have entered into the Equity Commitment Letter. On July 20, 2021, Blackstone entered into a senior facility agreement with, inter alios RBC Europe Limited, J.P. Morgan AG and United Overseas Bank Limited for principal amount of £1.15 billion to finance transaction. The transaction is subject to several pre-conditions, including the satisfactory completion of confirmatory due diligence by Blackstone, antitrust approval and approval from shareholders of St. Modwen at general meeting and court meeting. The transaction is not subject to any financing pre-condition. The Board of St. Modwen has indicated that the offer is at a value the Board would be willing to recommend unanimously, should a firm intention to make an offer be announced on such terms. It is intended that the London Stock Exchange and the FCA will be requested respectively to cancel trading in St. Modwen Shares at closing. J O Hambro Capital Management Limited intends to oppose the transaction. In accordance with Rule 2.6(a) of the Code, Blackstone needs to make a firm intention to make an offer or announce that they do not intend to make an offer by June 4, 2021. As on June 16, 2021, St. Modwen expects that the Scheme Document will be posted to St. Modwen shareholders by not later than June 25, 2021. As on July 21, 2021, Court Meeting and the General Meeting Scheme Shareholders voted to approve the Scheme at the Court Meeting and St. Modwen Shareholders voted to pass the Special Resolution to implement the Scheme, including the amendment of St. Modwen's articles of association, at the General Meeting. As of August 4, 2021, High Court of Justice of England and Wales has today sanctioned the Scheme pursuant to which the Acquisition is being implemented. The de-listing of St. Modwen Shares from the premium listing segment of the Official List of the Financial Conduct Authority and the cancellation of admission to trading of St. Modwen Shares on the Main Market of the London Stock Exchange for listed securities have also been applied for and will, subject to the Scheme becoming Effective, take effect on August 9, 2021.Transaction is expected to complete in July 2021. As of June 24, 2021, the long stop date is November 22, 2021. As of August 4, 2021, It is anticipated that the Effective Date will be August 6, 2021. William Rucker, Patrick Long, and Louise Campbell of Lazard & Co., Limited acted as financial advisors; Paul Hewlett, James Robinson, and Jonty Edwards of J.P. Morgan Securities plc acted as financial advisors and corporate brokers; and Heraclis Economides, Ben Stoop, and Alec Pratt of Numis Securities Limited acted as financial advisors and corporate brokers and Roland Turnill and Victoria MacDuff of Slaughter and May acted as legal advisors to St. Modwen Properties. Alex Midgen, Sam Green, and Nedim Bazdar of Rothschild & Co acted as financial advisors; and Michael Steele and Dipak Bhundia of Kirkland & Ellis International LLP acted as legal advisors to Blackstone. Karen Davies of Ashurst LLP is acting as legal advisor to N M Rothschild & Sons Limited. Charlie Foster and Paul Lim of RBC Capital Markets acted as financial advisors for The Blackstone Group International Partners LLP. The Blackstone Group International Partners LLP completed the acquisition of St. Modwen Properties PLC (LSE:SMP) from J O Hambro Capital Management Limited and others on August 6, 2021. As the Scheme has now become Effective, St. Modwen duly announces that, Nick Porter, Adam Shah and Peter Krause have been appointed to the St. Modwen Board and Danuta Gray, Ian Bull, Simon Clarke, Jenefer Greenwood, Jamie Hopkins, Dame Alison Nimmo and Sarah Whitney have tendered their resignations and have stepped down from the St. Modwen Board. On August 9, 2021, St. Modwen Properties is de-listed and cancellation of trading of St. Modwen Properties.