Australia's Ronin Property jumps on takeover talk

Sunday 26 September 2004

MELBOURNE: Units in office property owner Ronin Property Group touched a two-year high yesterday amid speculation that property developers and owners Mirvac Group or Multiplex Ltd might be considering a takeover bid.

By The Landlord

Mirvac and Multiplex declined to comment on the speculation.

However, a Mirvac spokesman noted that Managing Director Robert Hamilton said last month that Mirvac would continue to focus on increasing its retail and industrial assets.

Four fund managers said they had heard talk that Ronin might be in play with Multiplex and Mirvac as potential suitors, but said they had no information to back up the speculation.

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