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GLP soars on reports of competing bids, extension of long-term leases

Hot Stock

GLP soars on reports of competing bids, extension of long-term leases

PC Lee Published on Thu, Jan 12, 2017 / 4:13 PM GMT+8

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SINGAPORE (Jan 12): Shares of Global Logistic Properties surged 4% at $2.61 with 54.7 million shares changing hands, more than its three-month average of 19.5 million.

The stock of the modern warehouse provider had hit an intraday high of $2.69, which is also the highest since June 2015.

Bloomberg reported that private equity Blackstone Group was considering a counter bid for the warehouse operator.

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