Australia's Ingenia Communities gains on extending buyout talks with Warburg Pincus
BUZZ-Australia's Ingenia Communities gains on extending buyout talks with Warburg Pincus ** Shares of Ingenia Communities Group INA.AX rise as much as 11.3% to A$4.72, on track to log their best session since September 7
** Property developer extends discussions with Warburg Pincus regarding buyout offer and said it would sign a process deed with the private equity firm no later than October 23
** Process deed between prospective bidder and target company is a precursor to a binding implementation agreement, describing parties' obligations to progress the proposal
** INA also granted US firm comprehensive due diligence access, following Warburg Pincus' sweetened offer of A$5.25 per share earlier this month
** INA adds, no certainty that proposal will result in a formal binding offer
** Stock is down 11% YTD, including session's moves
(Reporting by Anjali Singh in Bengaluru)
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