Australia-listed land-lease community operator Ingenia Communities Group has rejected an improved AUD2.06bn (€1.47bn) cash takeover proposal from private equity firm Warburg Pincus, saying the offer continues to undervalue the business, according to a report by Reuters.
The latest approach, submitted on 14 September, would see Warburg Pincus pay AUD5.05 per Ingenia share in cash. The proposal represents an increase of almost 6.3% on the private equity firm’s initial AUD1.94bn bid made on 30 Augu...
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