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Warburg Pincus Makes Third Offer for Ingenia at A$2.14B

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Story summary
  • Warburg Pincus has submitted a third non-binding takeover offer for Ingenia Communities Group.
  • The proposal values Ingenia at A$2.14 billion, offering A$5.25 per stapled security.
  • Acceptance requires Ingenia to abandon its planned acquisition of Peet Limited.
  • Ingenia shares rose up to 8.7% to A$4.89, their highest since Jan 29.
  • Warburg Pincus expects up to eight weeks of due diligence, with an agreement deadline of Oct 2.