Ingenia removes Warburg Pincus from data room after rival AVID takeover bid

The Wall Street Journal reports Ingenia revoked Warburg Pincus’s data-room access after receiving a US$1.55 billion takeover offer from AVID Property Group. Bloomberg reports Ingenia shares were up 8.3% as of 10:58 a.m. in Sydney on October 26. Citing an Ingenia statement, Bloomberg says AVID offered A$5.35 per stapled security, plus up to five Australian cents in potential distributions by year-end.