Morgan Stanley offers $5.4 billion for Investa
The real estate arm of the US bank will buy the Australian property trust at a 56% premium to its net tangible assets.
The real estate funds division of Morgan Stanley has made an all-cash bid of A$3.08 per stapled security to shareholders in the Australian listed property trust Investa Property Group. The purchase will be conducted via a scheme of arrangement and values Investa at A$6.6 billion $5.4 billion, or a 56% premium to its net tangible assets.
Investa is AustraliaÆs eighth largest LPT by market cap and focuses on commercial property in the countryÆs large cities, though it has also...
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