Australand opens books to Stockland

Property group agrees to provide access to due diligence as board prepares to asses $2.5bn takeover bid.

Property developer Australand Property Group (ALZ) has agreed to provide suitor Stockland (SGP) with access to due diligence material as it considers a sweetened takeover bid for $4.35 per share.

The takeover target said it would negotiate access to due diligence including the provision of reciprocal due diligence in order for its board to form a view on the merits of the proposal. 


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