Deals
Growthpoint Raises Fountainhead Bid on Rival Exclusivity End
This article is for subscribers only.
Growthpoint Properties Ltd., South Africa’s biggest real-estate company by market value, raised its bid for Fountainhead Property Trust as exclusive talks with a rival bidder end tomorrow.
The revised offer is 5.7 percent, or 605 million rand ($68 million), higher than its previous bid, the Johannesburg-based company said in a statement today. The offer of 37 Growthpoint linked units for every 100 Fountainhead units is 8.6 percent higher than a bid by Redefine Properties Ltd., Growthpoint said.