Corporate Action: Vote in Favour of Oxford Properties' AUD 5.60 Takeover Offer for Investa
After a protracted takeover battle, an explanatory memorandum has been released on Oxford Properties Group's proposed acquisition of Investa Office Fund, by way of a trust scheme. The acquisition price is AUD 5.60 cash per unit, less any distributions paid by Investa Office Fund after Sept. 13, 2018. On the basis that Investa Office Fund is not expected to declare another distribution, we raise our fair value estimate to AUD 5.60, consistent with the offer price.We view the Oxford offer as full...
Investa Office is a real estate investment trust formed by the stapling of the units in two Australian registered schemes, Armstrong Jones Office Fund and Prime Credit Property Trust. The principal activity of Co. is to own investment grade office buildings, generating rental and other property income. These properties are either owned directly or indirectly through the ownership of interests in unlisted entities.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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