Japan Residential Investment Company(JRIC) Surges 32% As Offer Is Agreed On

We are pleased to recommend the offer – it represents an attractive price and is at a level that we believe should be put to our shareholders.” – Raymond Apsey, Non – executive Chairman

On November 13th Japan Residential company surged 32% because of a bid made by Blackwater(BLK). They agreed to buy JRIC for £152.6 million with a share premium of 32% (72 pence). JRIC has also stated that on Friday 13th they received an offer from a potential bidder at the same premium. Although, the talks are in early stages as the bidder is currently carrying out due diligence.

 

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