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