The protracted $3 billion-plus takeover tussle for control of ASX-listed housing provider Ingenia has lurched into another round, with private equity giant Warburg Pincus lifting its offer – its fifth so far – to $5.55-a-share to trump a rival bid from Avid Property Group.
The bidding values Ingenia Communities, which runs land lease housing estates and holiday parks, at about $3.2 billion on an enterprise value and $2.3 billion on an equity basis.
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