Unlock stock picks and a broker-level newsfeed that powers Wall Street.
Trading in Australia's Investa Office Fund halted before takeover update
In This Article:
Sept 7 (Reuters) - Trading in shares of Sydney-focused landlord Investa Office Fund was halted on Friday before an update from the firm about a Blackstone Group LP buyout offer.
Buyout giant Blackstone said on Thursday it was willing to raise its bid for Investa to A$3.3 billion ($2.37 billion) to beat a rival offer from Canadian real estate fund Oxford Properties Group.
The U.S.-listed firm sounded out its intention to raise its Investa bid to a distribution adjustable A$5.52 per share from A$5.3485 after a competing bid from Oxford Properties, a wholly owned entity of Canada's Ontario Municipal Employees Retirement System.
($1 = 1.3904 Australian dollars) (Reporting by Aaron Saldanha in Bengaluru Editing by Paul Tait)
Terms and Privacy Policy