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BID FOR AUSTRALIA'S COLONIAL PROPERTY TRUST ENDS AT US$736 MLN.
SYDNEY, Oct 1 Asia Pulse - The Commonwealth Property Office Fund (ASX:CPA) and Gandel Retail Trust (ASX:GAN) have won the $A1.36 billion ($US736.03 million) bid for Colonial First State Property Trust (ASX:CFT).
The alliance beat rival Mirvac Group (ASX:MGR), with CFT unitholders today voting in favour of the $A1.5 billion ($US811.8 million) Commonwealth-Gandel offer and ending what has been an intense month-long bidding war.
Earlier at a separate meeting, the Commonwealth's unitholders also backed the company's joint takeover bid, while Gandel's unitholders were meeting late today to vote on the offer.
The support from CFT and Commonwealth unitholders foils rival bidder Mirvac Group's plan to out-manoeuvre its way towards control of the trust and its shopping centres, industrial sites and office buildings.
CFT unitholders met in Sydney this morning to decide which of the $A1.5 billion ($US811.8 million) offers to support.
"CFT is pleased to announce that the unitholders of CFT have today approved the proposal by the ...
- AUSTRALIA'S MIRVAC GROUP MAKES TAKEOVER OFFER FOR CFT.
- News wire article from: AsiaPulse News August 28, 2002 700+ words
SYDNEY, Aug 28 Asia Pulse - Mirvac Group Ltd (ASX:MGR) yesterday reported...Colonial First State Property Trust (CFT). Mirvac said it would offer one stapled security for every 1.76 CFT units, valuing each CFT unit at $A2.35 ($US1.28...
- AUSTRALIA'S MIRVAC GROUP INCREASES OFFER TO COLONIAL FIRST STATE.
- News wire article from: AsiaPulse News September 4, 2002 700+ words
...SYDNEY, Sept 4 Asia Pulse - Mirvac Group Ltd (ASX:MGR) has increased...Property Trust (ASX:CFDCB) (CFT) as part of its aggressive...A2.41 ($US1.31) per CFT unit, noting its bid was ahead...and future value. "It allows CFT holders to maintain an investment...
- MIRVAC GROUP - POSTPONES MELBOURNE DOCKLANDS DEVELOPMENT.
- News wire article from: AsiaPulse News February 11, 2000 700+ words
...Stock Exchange on Feb 11, 2000. Contact details below.) MIRVAC GROUP (ASX:MGR) Mirvac postpones its Melbourne Docklands development...number of major development sites throughout Australia, the Mirvac Group is also one of the country's largest employers of building...
- Mirvac Group beats consensus.
- Newspaper article from: Australasian Business Intelligence August 22, 2006 700+ words
...The Australian Financial Review - ABIX via COMTEX) -- Mirvac Group in Australia is involved in all aspects of property, and...was greatly improved. Publication Date: 23 August 2006 MIRVAC GROUP - ASX MGR MIRVAC HOTELS PTY LTD MIRVAC HOMES MIRVAC FUNDS...
- MIRVAC GROUP REQUESTS TRADING HALT IN AUSTRALIA.
- News wire article from: AsiaPulse News October 25, 2006 700+ words
SYDNEY, Oct 25 Asia Pulse - Property developer Mirvac Group Ltd (ASX:MGR) has requested a trading halt ahead of making an announcement. "The securities of Mirvac Group will be placed in pre-open at the request of the group, pending the...
- AUSTRALIA'S MIRVAC GROUP RELEASES PROPERTY SUMMARY.
- News wire article from: AsiaPulse News June 8, 2005 700+ words
SYDNEY, June 8 Asia Pulse - Mirvac Group (ASX:MGR) has released a detailed property-by-property...downturn, although the market will remain patchy. Also today, Mirvac Group subsidiary JF Meridian Trust announced it would purchas a...
- AUSTRALIA'S MIRVAC GROUP TO OFFLOAD STAKE IN TWO RESORTS.
- News wire article from: AsiaPulse News July 10, 2007 700+ words
SYDNEY, July 10 Asia Pulse - Mirvac Group (ASX:MGR) is selling its investment in two hotel resorts...the Mirvac subsidiary Hotel Capital Partners Ltd (HCP). Mirvac Group's Mirvac Capital Investments Pty Ltd holds a 19.9 per...
- AUSTRALIA'S MIRVAC GROUP PLANS RESTRUCTURE.
- News wire article from: AsiaPulse News September 27, 2001 700+ words
...Sept 27 Asia Pulse - Residential property developer the Mirvac Group (ASX:MGR) today announced plans to restructure the group, effectively streamlining it to save administrative costs. Mirvac group secretary Max Sheaffe said security holders would be asked...