Oxford Properties Group, the investment arm of Ontario Municipal Employees Retirement System, has placed a last-minute A$3.3 million ($2.4 billion) bid for Australian office owner Investa Office Fund, beating an earlier offer from Blackstone Group by 2.8 percent.
The offer comes two days before a scheduled shareholder meeting to approve Blackstone’s takeover.
The successful bidder will get 35 properties stretching from Perth on Australia’s west coast to Sydney and the eastern seaboard.
Investa Listed Funds Management Ltd., the responsible entity of Investa Office, recommended unitholders take no action at this point, and continues to recommend the Blackstone bid.
