Warburg Pincus raises takeover bid for Ingenia Communities to $5.25

Warburg Pincus has increased its all-cash indicative takeover proposal for Australian retirement living and holiday park operator Ingenia Communities to approximately AUD 5.25 per share. This revised offer is an increase from a previously rejected AUD 5.05 bid and a prior AUD 4.75 approach made in early September.

The proposal is subject to several conditions, including the completion of a full due diligence process by October 2 and the requirement that Ingenia abandon its planned acquisition of Australian homebuilder Peet. Ingenia’s board is currently assessing the merits of the revised terms and whether the attached conditions are acceptable.

Following the announcement, Ingenia shares rose 6.8% to AUD 4.805 during early trading. The company continues to evaluate its strategic direction and long-term growth goals while focusing on its 96 communities and sites across Australia.