Reuters: Hot Stocks: Australand shares fall after GPT scraps deal

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australand shares fall after GPT scraps deal May 28th 2013, 00:11 SYDNEY | Mon May 27, 2013 8:11pm EDT SYDNEY May 28 (Reuters) - Shares in Australand Property Group fell more than 5 percent on Tuesday after rival property firm GPT Group abandoned its bid to buy Australand's most valuable assets, including its $2.4 billion investment property portfolio. GPT said in a statement on Monday it "has become apparent that a transaction at a price that GPT is willing to pay is not possible." Australand had rejected GPT's unsolicited approach in December, saying it did not provide a sufficient premium. Australand shares fell as low as A$3.35 and last traded down 4.35 percent at A$3.38. GPT shares were off 1.1 percent. (Reporting by Lincoln Feast; Editing by Paul Tait)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions