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.
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 company’s businesses and operations.
The New York headquartered giant had lobbed a $3 billion for a whole-of-company takeover bid for the master planned communities developer.