Ireland's top private landlord IRES open to $827 million takeover bid from Barings

Sept 28 (Reuters) - Irish Residential Properties REIT, Ireland's largest private residential landlord, said on Monday it would be inclined to recommend a possible all-cash takeover offer from asset manager Barings at €1.386 per share, implying an equity value of about €726.88 million ($827.12 million).

• The board said it had received five proposals from Barings, the first on August 5, and had unanimously concluded it would back a firm offer at the latest price if one were made.

• The offer represents a premium of 30.75% to the stock's close on Friday.

• Under Irish Takeover Rules, Barings has until November 9 to announce a firm intention to bid or walk away, unless the deadline is extended.

• IRES, which provides private residential rental accommodation in and around Dublin, has seen strong demand for quality rental homes amid Ireland's housing shortage.

($1 = 0.8788 euros)

(Reporting by Raechel Thankam Job in Bengaluru; Editing by Priyanka G)