Investa takeover gets green light from Supreme Court

Company News

by Anna Napoli

Oxford Properties Group has received the green light from the Supreme Court of New South Wales for its acquisition of Investa Office Fund (ASX:IOF).

Orders approving the takeover which worth around $3.4 billion will be lodged with the Australian Securities and Investments Commission tomorrow, (6 December 2018) at which time the Oxford proposal will become legally effective.

The Canadian company lobbed a $5.60 cash per share offer for the real estate investment trust in September after obtaining a 19.99 per cent stake in the fund.

Rival bidder Blackstone exited the bidding war in October, declining to up its previous bid of $5.52.

Shares in Investa Office Fund (ASX:IOF) trading 0.18 per cent higher at $5.59

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.