Australia's Ingenia Communities hits over a month high on rejecting sweetened buyout bid
BUZZ-Australia's Ingenia Communities hits over a month high on rejecting sweetened buyout bid ** Shares of Australia's Ingenia Communities INA.AX rise as much as 4.9% to A$4.53, their highest level since Aug 7
** Stock hits biggest intraday pct gain since Sept 7
** Property developer says it rejected a revised indicative takeover proposal of A$2.06 billion ($1.47 billion) from Warburg Pincus
** Sweetened offer of A$5.05/stapled security is higher than the prior A$4.75/stapled security bid and at a premium of nearly 17% to Ingenia's last closing price
** Co's board believes revised proposal substantially undervalues co and is not in the best interests of securityholders
** Adds, board remains open to considering proposals
** YTD, stock down 14.6%
($1 = 1.4039 Australian dollars)
(Reporting by Aamir Sheik Khalid in Bengaluru)
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