ALZ australand property group
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News: Australand opens books

  1. FNN News
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    30/05/14
    11:10
    Post #: 13437043
    .


    Australand Property Group (ASX:ALZ) will provide Stockland with access to due diligence material to inform their takeover bid.


     


    Stockland sweetened their proposed deal earlier this week with an offer of $4.35 per share which values the property group at $2.5 billion.


     


    Australand completed an earnings review and expects growth of 20-25 per cent in earnings for the full 2014 year from the 2013 figure.


     


    Australand reported a net profit of $156 million in the 2013 calendar year.

    ALZ Price at posting: $4.28 Sentiment: None Disclosure: Held
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