Lendlease denies Japan takeover ‘approach’

Property group Lendlease says it has not received an approach from an unnamed Japanese suitor, as speculated in media reports.

Shares in the company rose by more than eight per cent in early trade on Monday, after The Australian newspaper reported the group was understood to be the target of a Japanese buyer.

“Lendlease confirms it has not received any such approach,” the company said in a short release following the media report.

Lendlease shares were trading 8.83 per cent higher at $13.865 at 1123 AEST.

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