June 23 (Reuters) - Australia's Cromwell Property Group (CMW) said on Tuesday it received a takeover bid from fund manager ARA Asset Management to acquire 29% of Cromwell's stapled securities.
The takeover bid, via ARA's unit ARA Real Estate Investors 28, is to buy 29 out of every 100 Cromwell stapled security not already owned by ARA at A$0.90 per security. The acquisition takes the stake owned by ARA to 52.6%.
Cromwell notes the "unsolicited" and "opportunistic" offer, and advises its shareholders to not take any action, it said in a statement.
News: CMW Australia's Cromwell Property gets takeover bid from ARA Asset Management
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Last
44.0¢ |
Change
-0.010(2.22%) |
Mkt cap ! $1.178B | |||
| Open | High | Low | Value | Volume |
| 44.5¢ | 45.0¢ | 43.0¢ | $352.3K | 803.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 163516 | 43.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.0¢ | 115783 | 12 |
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| Last trade - 10.43am 12/08/2025 (20 minute delay) ? |
| CMW (ASX) Chart |