Singapore-listed Ascott Group up 42.2 pct on takeover bid

SINGAPORE, Jan 8 (Reuters) - Shares of Ascott Group rose 42.2 percent to S$1.72, a fraction below the price offered by CapitaLand to buy the service residence unit.

CapitaLand, Southeast Asia's largest property firm by market value, who currently owns 67 percent of Ascott, is making a voluntary unconditional cash offer of S$1.73 per share, valuing Ascott at S$2.8 billion ($1.95 billion).