US private equity giant Blackstone has four days to match a near-$3.4 billion takeover bid for Investa Office Fund by its rival Canada's Oxford Properties Group or give up the chase.
The listed Investa fund's manager handed down the four-day deadline on Monday after the Canadian group, which is the real estate arm of Canadian pension fund OMERS, completed its due diligence and declared its offer binding.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter.
