Oxford trumps Blackstone bid for Investa, wins over top investor: Reuters

Canadian landlord Oxford Properties Group has sweetened its bid for Australian office owner Investa Office Fund to A$5.60 (US$4.02) per share, escalating a bidding war with U.S. private equity giant Blackstone Group, Reuters reported. Oxford’s new offer, backed by a top Investa shareholder, ICPF, is A$0.10 per share higher and values Investa at A$3.35 billion (US$2.41 billion). It comes just ahead of a meeting scheduled for Monday where Investa shareholders are set to vote on Blackstone’s rival bid. Oxford is the real estate investment arm of the Ontario Municipal Employees Retirement System (OMERS).

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