Stockland lifts Australand bid

Stockland has lobbed an increased and final takeover offer for Australand to $4.35 per share.

Property developer Stockland (SGP) has lobbed an increased and final takeover offer for rival Australand (ALZ), lifting its previous bid of $4.20 per share to $4.35 per share.

Stockland will offer 1.124 of its securities for each Australand security in a full scrip proposal, valuing the shares at $4.35 each and bringing the total value of the bid to $2.5 billion.

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