Centro Retail (ASX:CER) has decided to purchase Centro Properties Group (ASX:CNP) as it looks to consolidate its assets. The new group will be called Centro Retail Australia, and is forecast to deliver an FY12 distribution yield of approximately 5%. CER said the consolidated entity is likely to have the size and scale to enhance long-term value and moderate gearing levels. The takeover announcement has seen CNP rocket almost 60% so far today, making it one the top performers in the stock market. Receive FREE Trading Recommendations for the next 7 Days, Click Here!October 6, 2011
ASX Top Shares News: CER Purchases CNP
Centro Retail (ASX:CER) has decided to purchase Centro Properties Group (ASX:CNP) as it looks to consolidate its assets. The new group will be called Centro Retail Australia, and is forecast to deliver an FY12 distribution yield of approximately 5%. CER said the consolidated entity is likely to have the size and scale to enhance long-term value and moderate gearing levels. The takeover announcement has seen CNP rocket almost 60% so far today, making it one the top performers in the stock market. Receive FREE Trading Recommendations for the next 7 Days, Click Here!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment