CPA piles pressure on Dexus fund

Commonwealth Property Office Fund lifts guidance, reveals increase in assets.

Commonwealth Property Office Fund (CPA) has underlined its decision to spurn a bid by rival office owner Dexus (DXS) and the Canadian Pension Plan Investment Board by upping guidance and revealing its net tangible assets (NTA) have increased over the first quarter of fiscal 2014.

Last week CPA rejected Dexus's takeover bid, which is equivalent to $1.15 per share – in line with CPA's NTA at the end of June 30.

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