ESR Group bids $693m for Propertylink
Real estate investment trust Propertylink Group says it is subject of a $693.2 million takeover offer by the Australian arm of real estate developer ESR Group.
ESR has offered $1.15 in cash for each stapled security in Propertylink, which represents a 9.5 per cent premium to the stock's last close, Propertylink said in a statement.
Propertylink added that ESR's offer was subject to Propertylink not proceeding with its takeover offer for peer Centuria Industrial REIT.
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