Australia's Investa Office Fund gives Blackstone four days to match rival bid
FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid/File Photo
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(Reuters) – Investa Office Fund (IOF) <IOF.AX> said on Monday it has given private equity firm Blackstone <BX.N> four days to match a rival bid by Canada’s Oxford Properties Group as the bidding war for the Australian office owner comes to a head.
IOF said in a statement that its board has assessed the Oxford proposal and determined it to be superior to the Blackstone offer.
IOF said Blackstone has until Oct. 18 to match or outbid Oxford’s offer.
(Reporting by Aby Jose Koilparambil in Bengaluru)