British Land (LON:BLND) has outlined the rationale and key terms of its recommended acquisition of Life Science REIT, describing the deal as “strategically and financially attractive,” immediately EPS accretive, and neutral to net tangible assets (NTA). Transaction terms, funding, and timelineCFO David Walker said the offer comprises £0.141 in cash and 0.07 new British Land shares, equating to approximately £0.43 per Life Science REIT share. The deal is unanimously recommended by the Life Science REIT board, and British Land has already secured irrevocable commitments or letters of support from shareholders representing 31% of the share register. Walker said British Land’s marginal cost of debt is around 4.5%, compared with about 6% for Life Science REIT’s debt. Walker stated that notice to cancel the contract had been served and that British Land expects to cancel it.