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FCL bid for Australand becomes binding

Published Tue, Jul 1, 2014 · 10:00 PM

HAVING completed the due diligence work, Frasers Centrepoint Ltd (FCL) has made its off-market offer to acquire Australand Property Group a binding one.

FCL is giving cash of A$4.48 (S$5.29) for each stapled security in a deal that values the Australia-listed firm at about A$2.6 billion.

The four-week due diligence process had affirmed the strategic fit of Australand to FCL, said FCL's group chief executive officer…

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Companies & Markets

Companies & Markets

FCL bid for Australand becomes binding

Companies & Markets

Meta releases early versions of its Llama 3 AI model

Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts

TSMC estimates losses of US$92.4 million due to Taiwan earthquake

Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom

US: Wall St opens higher as some chip stocks bounce back after selloff

Blackstone reports 1% rise in Q1 earnings

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