SGP 0.87% $5.11 stockland

News: Stockland considers Australand play

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    Stockland (ASX:SGP) is reportedly considering a takeover of Australand, with speculation heightened by a rally in the target's share price. 


     


    Australand's share price closed 3c higher at $3.60 on Friday, after adding more than 12 per cent since June 24.


     


    Media reports quote sources saying Stockland executives are weighing up a deal, with a cash and scrip bid the likely scenario. 


     


    The bid is tipped to be worth more than $4 billion, topping GPT Group’s $2.94 billion bid for Australand's office and industrial property businesses in December.


     


    But GPT walked away from its pursuit in May.


     


    Stockland struck a net loss of $147.1 million in the first half of fiscal 2013.

 
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