Australia's Investa sets Sept 17 to decide on Blackstone bid: Reuters
Investa Office Fund has set September 17 as the date for its shareholders to vote on Blackstone Group’s sweetened A$3.3 billion (US$2.4 billion) bid, Reuters reported. Blackstone declared its A$5.52 per share offer as final. The U.S. private equity giant increased its offer for the Sydney-focused landlord last week in response to a rival bid from Oxford Properties Group, the real estate investment arm of the Ontario Municipal Employees Retirement System (OMERS). The face-off between the North American firms is indicative of a reach for yield by global investors amid strong Australian commercial rents, especially in Sydney, where capacity is tight.
10 September 2018•1 min read
