Dexus Offers to Buy Investa Office for Implied A$4.11 per Share

Dexus Property Group offered to buy Investa Office Fund in a deal valuing the Australian real estate investment trust at about A$2.5 billion ($1.8 billion).

Dexus offered 0.424 of its securities and about 82 Australian cents in cash for each IOF share, implying an offer value of A$4.11 per share, the target said in a statement Monday. That’s 5.7 percent more than IOF’s last closing price.

The board intends to unanimously recommmend the indicative, non-binding offer, according to the statement.

Link to Statement:Link

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