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Oxford Properties rivals Blackstone to take over Investa Office Fund

Investa Office Fund's manager said Oxford Properties Group is offering to buy the Australian fund for A$5.50 per unit, less any distributions declared or paid on or after Sept. 4.

The unsolicited, nonbinding, indicative and conditional proposal rivals Blackstone Group LP's A$5.3485-per-unit offer for Investa Office Fund. Not taking into account the target's declared distribution, Blackstone's offer comes out to A$5.45 per unit.

More details to follow...