CPA Dexus bid endorsed after GPT offer lapses
Commonwealth Property Office Fund (CPA) investors have been implored to accept the now unconditional Dexus/CPPIB buyout offer, days after an alternate bid from GPT expired.
In a letter published on the Australian Securities Exchange (ASX), chairman of Commonwealth Managed Investments Limited Richard Haddock said the GPT offer had lapsed last week and unit-holders’ acceptance of the offer voided.
The Dexus Property Group and Canada Pension Plan Investment Board $3 billion takeover offer was is free of remaining conditions, according to the announcement, and on the table until 14 February.
In the absence of a better offer, directors unanimously called on unit-holders to accept the Dexus proposal.
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