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Australand 'no' to Stockland's stake proposal
It calls the A$1.95b deal undervalued and not compelling
Published Wed, Apr 23, 2014 · 10:00 PM
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[SYDNEY] Australia's Australand Property Group said yesterday it had rejected a A$1.95 billion (S$2.27 billion) proposal from bigger rival Stockland Group to increase its stake, saying the deal was undervalued.
Australand has been seen as a takeover target since Singapore's CapitaLand Ltd said it wanted to sell what was a 59 per cent stake in e…
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