Australia’s CPA rejects $2.6b takeover bid from CPPIB, Dexus
The Commonwealth Property Office Fund (CPA) has rejected a A$2.7 billion ($2.6 billion) takeover bid from the Canada Pension Plan Investment Board (CPPIB) and Dexus Property Group (DXS) to acquire the trust's Australian office portfolio.
In July, DXS announced it had entered into a forward contract with Deutsche Bank which gave it the right to acquire a 14.9% interest in CPA, the Commonwealth Bank of Australia's office trust. To buy all...
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