ASX Top Shares News: CER Purchases CNP

6th Oct 2011

ASX Top Shares News: CER Purchases CNP|ASX CER|ASX CNP StocksCentro 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!

No related posts.

Tags: , , , , , , , , , , , , , , , , , , , , , , , , ,
Posted in ASX Top 500 All Ordinaries, Australia Shares, Best Shares, Financial News, Financial Stocks, Hot Stock Picks, Market Sectors News, S&P ASX News, Top Stocks, Watch Stocks
7 day free trial

For FREE trading recommendations, including access to any of our reports and over 800 lessons in our educational archives, simply click the button below

ASX Stock Tips on Twitter

Follow Us on Twitter



Disclaimer: The content of this blog does not constitute a recommendation nor does it take into account your investment objectives, financial situation nor particular needs. Before acquiring or using any of Australian Stock Report's products, you should obtain and consider our Financial Services Guide. Australian Stock Report Ltd (ACN 106 863 978) is licensed as an Australian Financial Services Licensee pursuant to section 913B of the Corporations Act 2001. AFS Licence 301682. Any content within this email remains the property of Australian Stock Report and should not be reproduced without the consent of Australian Stock Report
RSS Feed