Investa postpones meeting on Blackstone bid after rival ups offer: Reuters

Australian office owner Investa Office Fund has postponed a shareholder meeting regarding a takeover offer from U.S. private equity firm Blackstone Group after receiving a rival bid, Reuters reported. Investa said it would engage with Oxford Properties Group over a possible binding proposal after the Canadian landlord sweetened its bid for the company this week. Oxford, the real estate investment arm of the Ontario Municipal Employees Retirement System (OMERS), had offered A$5.60 for each share in Investa, A$0.10 higher than Blackstone’s offer and valuing Investa at A$3.35 billion.

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