Investa Office Fund gives Blackstone four days to match rival bid: Reuters
Investa Office Fund (IOF) has given U.S. private equity firm Blackstone Group four days to match a rival offer by Canada’s Oxford Properties Group as the bidding war for the Australian office owner comes to a head, Reuters reported. IOF said in a statement that its board has assessed Oxford’s binding proposal and determined it to be superior to the Blackstone offer. Oxford, the real estate investment arm of the Ontario Municipal Employees Retirement System (OMERS), upped its offer last month to A$5.60 a share, which was A$0.10 higher than Blackstone’s latest bid and valued IOF at A$3.35 billion (US$2.38 billion).
15 October 2018•1 min read
