June 24, 2018 / 10:38 PM / 6 months ago

Hometown sweetens takeover bid for Australia's Gateway Lifestyle

June 25 (Reuters) - Australia’s Gateway Lifestyle Group said on Monday it received a revised A$713.8 million ($531 million), or A$2.35 a share, takeover offer from Hometown Australia Holdings Pty Ltd and Hometown America Communities Limited Partnership.

The new offer was 11.9 percent higher than Hometown’s original A$2.10 per share offer, and trumped Canadian firm Brookfield Property Group’s A$698.6 million bid last week.

$1 = 1.3443 Australian dollars Reporting by Chandini Monnappa in Bengaluru; Editing by Peter Cooney

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