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Australand Ltd. receives a takeover bid from Singapore's Frasers Centrepoint Ltd., valuing the company at AUD 2.59 billion. Frasers Centrepoint's offer of AUD 4.48 per Australand share surpasses a previous bid from Stockland Group. Australand grants exclusive due diligence to Frasers Centrepoint and expresses its intention to recommend the offer to shareholders if it becomes binding.
Monday, 2 June, 2014