OMERS' Oxford Unit Raises Investa Offer, Topping Blackstone

A unit of Ontario Municipal Employees Retirement System sweetened its bid for Australian property company Investa Office Fund to A$3.35 billion ($2.4 billion), escalating a bidding war with Blackstone Group LP. The Canadian pension fund’s Oxford Properties Group real estate unit raised its bid to A$5.60 a share, topping Blackstone’s latest A$5.52 offer, according to a statement Thursday. Investa Office shares were unchanged at A$5.54 at 3:10 p.m. in Sydney.