Investa mulls rival last-minute $3.3bn bid
Investa Office Fund is adjourning a planned shareholder meeting that was set to vote on a takeover by Blackstone Group while it mulls a higher rival bid.
Canada's Oxford Properties Group has lobbed a last-minute $3.3 billion offer for the Australian office landlord, $90 million higher than Blackstone's.
Investa on Wednesday said the meeting, set for Thursday, would be adjourned so that offer could be considered.
Blackstone, in a letter to Investa that was seen by Reuters, said the Oxford offer was "not a superior proposal" and that it reserved its rights to terminate its bid and claim a break fee if the meeting were to be adjourned and Oxford's offer deemed better.
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