Battle for Australian office trust heats up as Dexus, CPPIB hike bid - Reuters
A bidding war for Australia's Commonwealth Property Office Fund escalated after Dexus Property Group and the Canada Pension Plan Investment Board hiked their joint offer - a move expected to prompt a higher bid from a rival suitor, reports Reuters. The latest cash and stock offer values CPA, as the fund is known, at A$3 billion ($2.7 billion) and represents a 2.6 percent premium over a bid from rival property investor GPT Group, Dexus said.
11 December 2013•2 mins read
