Australand 'no' to Stockland's stake proposal

It calls the A$1.95b deal undervalued and not compelling

[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...

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