7 May 2021 | 07:37am StockMarketWire.com - The board of St. Modwen Properties PLC has announced that it received a non-binding conditional proposal from Blackstone Funds, advised by affiliates of The Blackstone Group, regarding a possible cash offer of 542 pence per share for the entire issued and to be issued share capital of St. Modwen. The possible offer follows a series of unsolicited proposals received from the Blackstone Funds. The possible offer represents a premium of approximately 21.1% to St. Modwen's closing share price of 448 pence on 6 May 2021; 33.7%. to the volume-weighted average St. Modwen share price of 405 pence over the 90-day period ending on 6 May 2021; 37.2% to the volume-weighted average St. Modwen share price of 395 pence over the 180-day period ending on 6 May 2021; and 23.8% to St. Modwen's reported 2020 EPRA Net Tangible Assets Per Share of 438 pence.