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Dexus Property Group (ASX:DXS) and Commonwealth Property Office Fund (ASX:CPA) will be placed in a trading halt today ahead of the announcement of a revised bid from Dexus and Canada Pension Plan Investment Board to take over CPA.
Dexus and Canada Pension Plan's current offer for the property fund, announced last month, includes 68 cents cash and 0.45 of Dexus securities for every CPA share.
However CPA's book value has recently been upgraded following a series of asset revaluations in the last month.
In statements to the ASX, both groups requested the halt continue until the announcement regarding the proposal was made, or otherwise when trade begins on Monday morning.
Dexus generated a full year net profit of $514.5 million in fiscal 2013.
