GPT Group has dropped its takeover bid for Â-Australand Property Group's $3 billion commercial and industrial assets
Livewire News
Livewire
GPT Group has dropped its takeover bid for Â-Australand Property Group's $3 billion commercial and industrial assets. The news came after Mirvac Group indicated it would no longer pursue a $7 billion merger plan with Australand. This leaves open the prospect of a block trade by majority shareholder CapitaLand, which owns 59% of Australand's shares. The block trade may now come at a discount to Australand's net tangible asset backing and holds a diminished appeal as the A-REIT sector cools. Read more: (VIEW LINK)
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
2 topics
Livewire News
Livewire
Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
Expertise
No areas of expertise
Livewire News
Livewire
Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
Expertise
No areas of expertise
Comments
Comments
Sign In or Join Free to comment
most popular
Equities
Why "buy and manage" is the better way to invest in stocks
Livewire Markets
