Dexus makes CPA takeover bid

Property group consortium makes offer for Commonwealth Property Office Fund.

Shares in Commonwealth Property Office Fund (CPA) jumped 2.2% this morning to a 1.5 month high of $1.18 after Dexus Property Group (DXS) made a takeover bid for the fund.

Dexus, in partnership with the Canada Pension Plan Investment Board, is offering 68 cents in cash and 0.4516 Dexus scrip for every Commonwealth Property share it doesn't own, which equates to around $1.15. 


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