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Investa Office Fund gets court OK to adjourn meeting for Blackstone takeover

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Investa Office Fund gets court OK to adjourn meeting for Blackstone takeover

Investa Office Fund received affirmation from the New South Wales Supreme Court in Australia that adjourning a meeting to consider Blackstone Group LP's A$5.3485-per-unit takeover offer is justified.

The responsible entity for Investa Office, Investa Listed Funds Management Ltd., decided to still push through with the scheduled Sept. 6 meeting, but the chairman will postpone it shortly after it starts at 10 a.m. local time to a yet-to-be-determined date.

The adjournment is in light of Oxford Properties Group's submission of a higher A$5.50-per-unit bid for the fund.

Investa Listed Funds advised Investa Office's unit holders to take no action at this point and maintained its recommendation of Blackstone's offer in the absence of a superior proposal.