Australand opens books

Company News

Australand Property Group (ASX:ALZ) will provide Stockland with access to due diligence material to inform their takeover bid.
Stockland sweetened their proposed deal earlier this week with an offer of $4.35 per share which values the property group at $2.5 billion.
Australand completed an earnings review and expects growth of 20-25 per cent in earnings for the full 2014 year from the 2013 figure.
Australand reported a net profit of $156 million in the 2013 calendar year.

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