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Investa: Blackstone willing to sweeten bid

Investa Office Fund says Blackstone is prepared to hike its buyout offer by 3.2 per cent to exceed one by Canada's Oxford Properties Group, adding fuel to a bidding war for the office landlord.

Investa says Blackstone had informed it in writing that it could go to $5.52 per share, adjusting for distributions declared or paid on or after Thursday.

Blackstone's previous offer was worth $5.3485 per share.

Iinvesta says its board intends to work with Blackstone to give effect to the price increase, which is a sliver higher than Oxford's $5.50 per unit offer.

It is continuing to recommend the Blackstone offer unless a superior offer emerges.

Austrlaian Associated PressBack to Breaking News

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