June 21 (Reuters) - Gateway Lifestyle Group (GTY) said on Thursday it had received a non-binding A$698.6 million ($514.7 million) offer from Canadian firm Brookfield Property Group.
The offer at A$2.30 per share represents a 7.5 percent premium to Gateway shares' closing level on Wednesday.
The Brookfield offer trumps an earlier offer from Hometown Australia Holdings Pty Ltd and Hometown America Communities Ltd Partnership that valued the company at A$635 million.
($1 = 1.3572 Australian dollars)
News: GTY Australia's Gateway Lifestyle receives $515 mln bid from Brookfield Property Group
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