Dutch pension giant PGGM and Charter Hall have joined the fray in the four-month takeover battle for property investor and fund manager Irongate Group, with a $1.3 billion cash bid of $1.90 a stapled security.
Shares in the ASX-listed stock, which closed at $1.57 on Friday, soared more than 18 per cent to touch $1.86 after news of the weekend non-binding offer was announced. It last traded at $1.84.
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Martin Kelly is a property reporter based in Sydney covering all aspects of commercial and residential real estate including major deals, market trends and developments. Email Martin at martinkelly@afr.com
