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IOF - Investa Office Fund News Story

A$5.58 0.0  0.0%

Last Trade - 06/12/18

Sector
Financials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £111.5m
Position in Universe th / 1893

UPDATE 1-Australia's Investa says Blackstone pulls out of takeover race

Thu 18th October, 2018 1:00am
(Adds background on bids, details on Oxford offer)
    Oct 18 (Reuters) - Australian landlord Investa Office Fund
(IOF)  IOF.AX  said on Thursday it had been advised by
Blackstone Group LP  BX.N  that the private equity giant would
not match Canada's Oxford Properties Group's A$5.60 per share
takeover bid.
    IOF said it had terminated the Blackstone agreement and had
entered into a scheme implementation agreement with Oxford.
    Oxford's sweetened offer of A$5.60 a share was A$0.10 higher
than Blackstone's latest bid and values Investa at A$3.35
billion ($2.4 billion).  urn:newsml:reuters.com:*:nL3N1VZ1UN
    Blackstone was not immediately available for a comment.
    IOF earlier this week had given Blackstone four days to
match Oxford's offer.  urn:newsml:reuters.com:*:nL3N1WU0V4        


($1 = 1.4073 Australian dollars)

 (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Stephen Coates)
 ((abyjose.koilparambil@thomsonreuters.com; +91 80 67496061;
Reuters Messaging:
abyjose.koilparambil.thomsonreuters.com@reuters.net))
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