Blackstone ups ante in bidding war for Australia's Investa: Reuters
U.S. buyout giant Blackstone Group LP said it was willing to lift its bid for Australian landlord Investa Office Fund to A$3.3 billion (US$2.4 billion) to beat a rival offer from Canada’s Oxford Properties Group, Reuters reported. Blackstone, seemingly set to seal its takeover until Oxford’s last-minute bid this week, wrote to Investa offering A$12 million above Oxford’s price if Investa agreed, among other conditions, to recommend it and lift the deal’s break fee. Investa said in a statement it intends to work to meet the conditions. Oxford invests in and manages real estate assets on behalf of the Ontario Municipal Employees Retirement System (OMERS).
6 September 2018•2 mins read
