September 6, 2018 / 12:20 AM / 3 months ago

Australia's Investa says Blackstone willing to sweeten buyout bid

Sept 6 (Reuters) - The manager of Investa Office Fund on Thursday said Blackstone is prepared to hike its buyout offer by 3.2 percent to exceed one by Canada’s Oxford Properties Group, adding fuel to a bidding war for the office landlord.

Investa Listed Funds Management Ltd (ILFML) said Blackstone had informed it in writing that it could go to A$5.52 per IOF unit, adjusting for distributions declared or paid on or after Thursday. Blackstone’s previous offer was worth A$5.3485 per unit.

ILFML said its board intended to work with Blackstone to give effect to the price increase, which is a sliver higher than Oxford’s A$5.50 per unit offer. It continued to recommend the Blackstone offer unless a superior offer emerged. (Reporting by Aaron Saldanha in Bengaluru; Editing by Stephen Coates)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below