The Distillery: GPT pluck

Scribes are surprised by a smart CPA bid from GPT, and one notes it’s a departure from Michael Cameron’s easy-does-it approach.

GPT Group’s takeover bid for the Commonwealth Property Office Fund (CPA) caught the market off-guard yesterday, with many believing the Dexus Property Group-Canada Pension Plan Investment Board bid would go unopposed. GPT had other ideas, however, and its move has the commentariat expecting more bids in coming weeks.

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