Oxford battles Blackstone with $2.4 bln Investa takeover offer: Reuters

Canadian landlord Oxford Properties Group has lobbed a last-minute A$3.3 billion (US$2.4 billion) bid for Australian office owner Investa Office Fund, edging out an earlier offer from U.S. private equity firm Blackstone Group, Reuters reported. The bid lands two days before a scheduled shareholder meeting to approve Blackstone’s takeover that has Investa’s blessings. It caps years of suitors circling Investa as tight supply and strong growth lift rents in Australia, especially in Sydney where Investa’s towers are concentrated. Oxford invests in and manages real estate assets on behalf of the Ontario Municipal Employees Retirement System (OMERS).

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