This article is from the Australian Property Journal archive
PRIME Trust has made bought a small stake in Babcock & Brown Communities Group but has requested to access the data room.
BBC yesterday said told shareholders to take “No Action” in response to the unsolicited offer.
BBC said as part of its recently completed strategic review, it has initiated a price discovery process for the whole of BBC and a dataroom has been opened and interested parties have commenced due diligence.
But BBC said PTN has not sought to gain access to the process.
Meanwhile PTN last Friday bought 0.434% stake totalling 2.83 million shares in BBC. The exercise cost around $969,048.
Australian Property Journal
