May 27, 2014 / 11:36 PM / 4 years ago

Australia's Stockland lifts Australand takeover bid to $2.3 bln

SYDNEY, May 28 (Reuters) - Australian property group Stockland Corp Ltd said on Wednesday it was increasing its takeover offer for smaller rival Australand to A$2.52 billion ($2.33 billion).

Stockland’s revised all-scrip offer came a month after Australand rejected its A$1.95 billion offer as undervalued. ($1 = 1.0815 Australian Dollars) (Reporting By Byron Kaye; Editing by Paul Tait)

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