Ingenia Rejects Revised Non Binding Indicative Offer

Key points

• Ingenia rejects revised offer from Warburg Pincus
• Proposal valued at $5.05 per stapled security
• Ingenia Board deems offer undervalues the company
• Open to proposals that align with securityholders' interests

Full summary

Ingenia Communities Group (ASX: INA) has announced its decision to reject a revised non-binding indicative proposal from Warburg Pincus LLC and/or its affiliates to acquire 100% of Ingenia. The revised proposal, at $5.05 cash per stapled security, follows an earlier offer of $4.75. Despite improvements, the Ingenia Board, after thorough assessment and consultation with financial and legal advisers, determined that the proposal substantially undervalues the company and is not in the best interests of securityholders. The board remains open to proposals that represent compelling value and are in the best interests of securityholders.