- Motley Fool•2 years ago
What's in it for Frasers Centrepoint Trust regarding its latest S$3 billion takeover bid for Australand Property Group?
- Motley Fool•2 years agoWhat Investors Need to Know about Frasers Centerpoint’s Latest S$3 Billion Bid For Australand Property Group
Frasers Centrepoint has just launched a takeover offer for Australia-based Australand Group
- Bloomberg•3 years ago
Australand Property Group (ALZ) rejected a takeover offer by its biggest shareholder Stockland (SGP) after the bid valued the Australian property trust 2 percent lower than its market capitalization. Stockland, Australia’s biggest diversified property trust, which bought a 19.9 percent stake in Australand March 19, offered 1.111 of its own shares for each Australand share, or the equivalent of A$4.20 a share, the latter said in a regulatory filing to the Australian stock exchange today. That valued Australand 2 percent lower than its A$2.48 billion ($2.32 billion) market cap. Stockland Chief Executive Officer Mark Steinert, who joined in January 2013, wants to increase the company’s exposure to retail and industrial properties.
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