Glenstone has increased its acquisition offer for Alternative Income REIT to £57.4m.

The property investment firm said its final cash offer is valued at 71.4 pence per Alternative Income REIT, representing a 7.3% increase on the indicative cash offer price of 66.5 pence per share, which was rejected in November.

Glenstone currently owns just under 25% of the REIT’s issued ordinary share capital.

Conditions of the offer include valid acceptances of the offer to be received by no later than 1pm on 4 September.

Therefore, Alternative Income REIT’s shareholders have been asked to send their completed form of acceptance ahead of this date if they approve of the deal.

Glenstone said that it believes that the offer "continues to be an attractive liquidity opportunity" for Alternative Income REIT shareholders and has encouraged them to accept its offer "as soon as possible".

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