Australia's Ingenia jumps to over 10-month high after AVID Property's $1.5 billion takeover bid
Mon 24:54
BUZZ-Australia's Ingenia jumps to over 10-month high after AVID Property's $1.5 billion takeover bid ** Shares of Ingenia Communities INA.AX rise as much as 9.1% to A$5.195, their highest level since January 12
** AVID Property Group submits a A$5.40-per-share takeover proposal, valuing the land-lease community operator at about A$2.2 billion ($1.54 billion)
** Offer represents a 13.4% premium to Ingenia's last closing price
** Ingenia terminates private equity firm Warburg Pincus' access to its data room
** AVID's proposal could derail Ingenia's planned A$992.5 million acquisition of Peet
** YTD, stock down 0.4%, including the session's moves
($1 = 1.4241 Australian dollars)
(Reporting by Paridhi Minda in Bengaluru)
Recent news on Ingenia Communities
See all newsBrief: ASX Says Ingenia Communities Group Securities Temporarily Paused
Brief: Ingenia Communities Says It Is Not Aware Of Any Third Party Proposal
Deals of the day-Mergers and acquisitions
Australia's Ingenia jumps to 10-month high on sweetened bid from Warburg Pincus
Australia's Ingenia at 10-month high after Warburg Pincus lifts bid to $1.5 billion (updated)