PUBLISHED ONJune 04, 2014 3:16 AM
SYDNEY - Shares in Australand Property Group jumped seven per cent on Wednesday after the Australian property company said it received a A$2.6 billion (S$3.02 billion) takeover offer from Singapore's Frasers Centrepoint Ltd.
Australand shares traded as high as A$4.61 and were up 6.5 per cent at A$4.59 at 0103 GMT, in a slightly weaker broader market.
Frasers is offering A$4.48 per share plus a distribution of A$0.1275 per share.