Unite Group Publishes Scheme Document For Acquisition Of Empiric Student Property

(RTTNews) - Unite Group PLC and Empiric Student Property PLC (ESP.L) Tuesday announced that they have moved forward with their agreed cash-and-share acquisition, with Empiric today publishing its Scheme Document. The transaction, first announced on 14 August 2025, will be carried out through a court-sanctioned scheme of arrangement under the Companies Act 2006.

The Scheme Document outlines full terms of the deal, notices for shareholder meetings, and proxy forms. Shareholders will vote at a Court Meeting and General Meeting scheduled for 6 October 2025 in London, where approval from at least 75 percent of voting shareholders is required.

Empiric's board, advised by Peel Hunt and Jefferies, unanimously recommends the offer, calling it fair and reasonable. If sanctioned, Unite will acquire all issued and outstanding Empiric shares, with completion expected in the first half of 2026.

ESP.L is currently trading at 90.60 GBP up 0.60 GBP or 0.67 percent on the London Stock Exchange.