aussie-only centro looms as possible target fo

No reason to get out of this.
A takeover once the dust has settled & CNP is buried should keep everyones interest while we collect our divis.

Cheers
Hotlegs

Aussie-only Centro looms as possible target for takeover bids Bridget Carter and Turi Condon From: The Australian March 03, 2011 12:00AM

THE creation of a new listed Australian-only Centro could spawn takeover bids after some of Australia's biggest property companies missed out in the carve-up of the troubled shopping centre owner.
Separate consortiums headed by Lend Lease, Stockland and Colonial First State Property have all been speculated on as parties that could potentially launch a takeover if a new Centro was successfully reinvented.

Centro has pointed out that a deal may not proceed, given there are many issues still to work through.

This week, Centro announced it had sold its 588 US shopping centres to private equity giant Blackstone for $US9.4 billion ($9.3bn) and would merge all its funds, including Centro Retail (CER), into one listed company.

As part of the deal, senior lenders to Centro Properties Group (CNP) would cancel all of their debt in exchange for substantially all of Centro's Australian assets and $100 million would be left to share among other stakeholders.

If Centro is successful in launching the proposed trust of 40 Australian centres worth $4bn, US hedge funds -- which control the majority of Centro's debt -- stand to pocket up to $1bn, according to industry analysts.