Avid matches Warburg Pincus $5.60 bid in battle for Ingenia
In a sign that the competition between bidders is narrowing, Warburg Pincus will keep the access to Ingenia’s data room it secured on Friday. For now, at least.
In a sign that the competition between bidders is narrowing, Warburg Pincus will keep the access to Ingenia’s data room it secured on Friday. For now, at least.
The latest move prevents the rival suitor from conducting due diligence on the Australian company’s businesses and operations.
Ingenia’s boss parlays anger over his plans to acquire Peet, which sent Ingenia’s share price plummeting, into a competition between two cashed-up buyers.
The property investor, which is building up its own land lease business, is offering 10¢ more per share than rival bidder Warburg Pincus.