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 Ingeniaβs 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 Ingeniaβs data room it secured on Friday. For now, at least.
Rival bidders for the developer have powerful backers: Brookfield and an Abu Dhabi fund on one side versus super fund ART and billionaire Paul Lederer on the other.
The latest move prevents the rival suitor from conducting due diligence on the Australian companyβs businesses and operations.
Ingeniaβs boss parlays anger over his plans to acquire Peet, which sent Ingeniaβs share price plummeting, into a competition between two cashed-up buyers.
The New York headquartered giant had lobbed a $3 billion for a whole-of-company takeover bid for the master planned communities developer.
A six-week exclusivity deal has handed a new suitor the inside track after its offer topped three earlier attemptsβ¦
The property investor, which is building up its own land lease business, is offering 10Β’ more per share than rival bidder Warburg Pincus.