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The Economic Times
The Economic Times
National

Australia's Ingenia rebuffs revised $1.5 billion takeover bid from Warburg Pincus

Australia's Ingenia Communities Group said on Monday it had rejected a A$2.06 billion ($1.47 billion) takeover bid from Warburg Pincus, the private equity firm's second attempt to buy the land-lease community operator.

Warburg's latest offer, at A$5.05 cash per share, is nearly 6.3% higher than its previous A$1.94-billion offer, and represents a premium of 16.9% to Ingenia's last closing price.

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