Centro launches takeover bid for AMP shopping centre trust

This comes after the company yesterday acquired a 19.9 percent stake in AMP Shopping Centre Trust.

Centro said it plans to make an off-market takeover offer for the remaining AMP Shopping Centre Trust securities, offering three Centro securities and 27.3 cents for every seven AMP Shopping Centre Trust securities.

The Centro offer will include one share in Centro Properties Ltd and a unit in Centro Property trust stapled together. This equates to about $A1.63 ($NZ1.78) per AMP Shopping Centre trust share, compared with the closing price yesterday of $A1.38.

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