Ingenia Communities rejects media third suitor speculation
Key points
- Ingenia Communities denied receiving or knowing of any new acquisition proposals beyond existing offers.
- The announcement followed media speculation in The Australian regarding a potential third bidder entering the frame.
- The company confirmed ongoing non-binding proposals from existing suitors Warburg Pincus and AVID Property Group Holdings.
Ingenia Communities Group (ASX:INA) issued an official response clarifying that it has not received any proposal from, and is not aware of, a third suitor considering an acquisition offer.
The company directly addressed a report published in The Australian titled "Tensions build as third suitor weighs up move for Ingenia".
The company stated that it "has not received any proposal from, and is not aware of, any third party that has made or is planning to make a proposal for Ingenia".
Management confirmed that the only active non-binding indicative proposals remain those previously submitted by Warburg Pincus and AVID Property Group.
The statement provided a clear update on corporate activity as bidding interest surrounding the business continues.
Following the announcement, the Ingenia Communities Group share price was up at $5.35.
Ingenia Communities Group owns, operates, and develops lifestyle communities and holiday parks across Australia.
The group focuses on delivering affordable housing options, predominantly catering to the expanding domestic seniors market.
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