Investa confirms Blackstone's increased bid

Company News

by Anna Napoli

Investa Office Fund (ASX:IOF) has confirmed the Blackstone Group has increased its takeover bid for the funds manager to $5.52 per unit.

The increase comes on the back off rival bidder, Oxford Properties Group $5.50 cash offer last week.

Following discussions between Blackstone and Investa a new scheme meeting to vote on the offers has been set for next Monday the 17th of September.

The Investa board continues to recommend that shareholders vote in favour of the Blackstone Scheme in the absence of a superior proposal.

Shares in Investa Office Fund (ASX:IOF) are trading 0.1 per cent lower at $5.54.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.