Write to Rebecca Thurlow at ©2022 Dow Jones & Company, Inc. It might need to make a few sacrifices to get the deal done. Alternatively, GPT could make a deal for its share in prime office towers it already jointly owns with Dexus in Sydney and Brisbane.Ĭommonwealth Property's stock trades just shy of GPT's offer, indicating GPT remains on the inside track to win Australia's corner office. Sharing a few choice Sydney properties might placate Dexus without sacrificing most of the benefits of the acquisition. ![]() ![]() Threats include any threat of suicide, violence, or harm to another. To get the deal done, GPT might consider a peace offering to Dexus. Harassment is any behavior intended to disturb or upset a person or group of people. If Dexus boosted the cash portion of its bid to get ahead of GPT, the boost to earnings would be a measly 1.3% to 1.9%, according to GPT would see more of an earnings boost from the acquisition, adding 3.5% to earnings next year. GPT's net debt to equity at the end of July was 27%, according to S&P Capital IQ. ![]() In the end, however, GPT has the deeper pockets, having sold assets to reduce debt in recent years. Ideally, though, GPT wants more than a controlling stake in a company with a troublemaking substantial stakeholder.ĭexus might still drum up another bid. ![]() GPT played down Dexus's threats Monday, and says it would be happy just to get the simple majority of shares it needs to take over management of the fund and start reaping fees.
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