UK Commercial Property REIT in All-Share Merger Talks With Picton Property

By Ian Walker

UK Commercial Property REIT said Wednesday that it is in all-share merger talks with Picton Property Income, while cautioning that there is no certainty any deal will be agreed.

The real-estate investment trust said that Picton has until Dec. 6 to either make an offer for the company or walk away under U.K. Takeover Panel rules.

No further information on the talks has been disclosed. Any merged company will be worth around 1.1 billion pounds ($1.35 billion) based on the companies closing share prices on Tuesday.

Write to Ian Walker at ian.walker@wsj.com

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