**Summary**
Empiric Student Property PLC and The Unite Group PLC have announced the Competition and Markets Authoritys (CMA) unconditional approval of their recommended cash and share acquisition. The acquisition, valued at 30.725 pence per Empiric share, is set to be implemented through a Court-sanctioned scheme of arrangement under the Companies Act 2006. The CMAs Phase 1 investigation concluded that the acquisition would not raise competition concerns.
Key details include
**Acquisition Terms**Unite will acquire Empirics entire issued and to-be-issued ordinary share capital. The cash consideration was adjusted from 32 pence to 30.725 pence per share due to dividend payments.
**Dividends**Empiric will not declare a fourth quarterly dividend for FY 2025, but shareholders retaining new Unite shares will receive Unites final dividend, expected to be approximately two-thirds of Unites total dividend for FY 2025.
**Timetable**The Court Sanction Hearing is scheduled for January 26, 2026, with the scheme expected to become effective on January 28, 2026. New Unite shares will be issued to Empiric shareholders by January 29, 2026.
**Shareholder Approval**The requisite majority of Empiric shareholders approved the scheme at the Court Meeting and General Meeting on October 6, 2025.
**Regulatory Compliance**The acquisition complies with the Takeover Code, Market Abuse Regulation, and other relevant UK regulations. Detailed information for overseas and US investors is provided, including tax and legal considerations.
The announcement emphasizes that the acquisition is subject to remaining conditions, including Court sanction, and provides contact details for inquiries and further information. Shareholders are advised to seek independent financial advice and refer to the Scheme Document for full details.