Urban Logistics announced an internalisation proposal in March 2025, including initial consideration of £6.8 million and contingent consideration of up to £5.6 million, implying up to £12.4 million in total.
When total costs were considered, the economic impact was assessed as materially higher, as much as approximately £32 million. The terms were unattractive. Escalation followed alongside other shareholders, including requisitioning for board change.
A recommended cash and share acquisition by LondonMetric was announced on 9 May 2025, providing 0.5612 new LondonMetric shares plus 42.8 pence in cash per Urban Logistics share. On the stated basis, this valued Urban Logistics at 150.3 pence per share, with a 4.4 pence dividend expected prior to completion. Entry at 117.5 pence on 1 March 2025 and the position was sold in July 2025 for 153.3 pence per share gave a return of approximately 31.2 per cent, an IRR of approximately 104.9 per cent, before costs. The Company owned a maximum of 10,000,000 ordinary shares during the period, being 2.12 per cent of Urban Logistic’s issued share capital. At the period end, the Company owned no ordinary shares
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