Australand recommends Frasers bid

Directors unanimously back $2.6 billion offer from Singaporean-listed developer.

Singapore's Frasers Centrepoint $2.6 billion bid for Australand Property Group (ALZ) looks set to advance, after receiving unanimous backing from the target’s directors.

The off-market cash offer, which values Australand at $4.48 per security, stymies an earlier all-scrip, $4.35 per security bid from Stockland Property Group, which the rival lifted from a previous $4.20.

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles