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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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Last
$5.11 |
Change
-0.045(0.87%) |
Mkt cap ! $12.74B | |||
| Open | High | Low | Value | Volume |
| $5.17 | $5.18 | $5.10 | $4.605M | 897.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 35 | 66962 | $5.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.11 | 36719 | 27 |
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| Last trade - 12.20pm 20/11/2024 (20 minute delay) ? |
| SGP (ASX) Chart |
