Consortium Floats $3B Bid For Aussie Office Trust

Law360, New York (October 11, 2013, 2:33 PM EDT) -- The Canada Pension Plan Investment Board has partnered with Australia's Dexus Property Group to make an AU$2.7 billion ($2.6 billion) offer for the Commonwealth Bank of Australia's commercial property trust, they announced Friday.

The board and Dexus are offering AU$0.68 in cash and AU$0.4515 in Dexus stapled securities per unit of the trust, known as the Commonwealth Property Office Fund, or CPA. Dexus already owns 14.9 percent of the trust and would add to its already robust Australian portfolio by snapping up the rest of CPA....
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