GLP shares close at year's high on talk of potential suitors

Singapore

NEWS on Thursday naming several possible bidders for Global Logistic Properties (GLP) has sent the warehouse operator's share price up 4 per cent to finish at S$2.61, a one-year high.

Analysts note that competition for the company has turned its pricing "a little exuberant". With 63.7 million shares traded, it was the second most active stock on the market, after commodities trader Noble Group.

Bloomberg on Thursday reported that Blackstone Group is considering an offer for GLP, potentially pitting it against another US private equity firm Warburg Pincus and a separate Chinese group in the bidding for the S$12.2 billion warehouse company.

Citing anonymous sources, Bloomberg said that Warburg Pincus is forming a consortium to bid for GLP and has been spea…