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.