2206 GMT - Citi joins Lifestyle Communities bulls as the emergence of a big new shareholder stokes M&A speculation. A substantial shareholder notice on Friday showed that Hometown Australia has bought some 11.9 million shares of Lifestyle Communities. Citi estimates Hometown Australia is acquiring a 9.7% stake. It expects the stake acquisition will lead to M&A chatter resuming on Lifestyle Communities. "While we do see the uncertainty around margin recovery for Lifestyle Communities... we now upgrade to Buy given the stake acquisition and potential for renewed M&A prospects," Citi says. Lifestyle Communities ended last week at A$5.31, below Citi's A$5.60/share price target. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 15, 2026 18:06 ET (22:06 GMT)
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