Investa Office Fund says Blackstone is prepared to hike its buyout offer by 3.2 per cent to exceed one by Canada's Oxford Properties Group, adding fuel to a bidding war for the office landlord.
Investa says Blackstone had informed it in writing that it could go to $5.52 per share, adjusting for distributions declared or paid on or after Thursday.
Blackstone's previous offer was worth $5.3485 per share.
Iinvesta says its board intends to work with Blackstone to give effect to the price increase, which is a sliver higher than Oxford's $5.50 per unit offer.
It is continuing to recommend the Blackstone offer unless a superior offer emerges.
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