Blackstone has sweetened its bid to take over the listed Investa Office Fund to $3.26 billion after the takeover target's biggest shareholder, a separate unlisted Investa fund, rejected the original offer.
The US funds giant has lifted the face value of its offer from $5.25 to $5.45 per IOF unit, adding almost $120 million to its original $3.14 billion offer.
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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
