DEXUS's bid for IOF gets a kick

IOF shareholders will receive a special distribution if the DEXUS takeover proposal is approved.

IOF shareholders will now receive 7 cent per share special dividend if DEXUS’s proposal to acquire the property trust is approved.

This extra payment increases the implied offer price to $4.24 or a 6.6% premium to the company’s net tangible assets at 31 December 2015.

The vote has been adjourned to allow shareholders time to consider the new proposal.

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