Citi upbeat on Ingenia Communities after receiving third buyout bid
28/09/2026 20:18
BUZZ-Citi upbeat on Ingenia Communities after receiving third buyout bid ** Citi sees upside in Australia's Ingenia Communities INA.AX after receiving a third takeover offer
** On Monday, the property developer said it was assessing an improved A$2.14 billion ($1.50 billion) buyout offer from private equity firm Warburg Pincus
** Brokerage says offer has potential to be lucrative, and sees another offer as likely to happen
** Adds that the takeover price in the range of A$5.25-A$5.50/share would be compelling in the near term, given an uncertain residential environment
** YTD, INA down nearly 8%, as of stock's last close
($1 = 1.4233 Australian dollars)
(Reporting by Aamir Sheik Khalid 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)