Property developer Stockland has increased its takeover offer for rival Australand to $2.5 billion.

Stockland’s new share swap offer values Australand shares at $4.35 each, up from its previous rejected offer of $4.20. The new offer comes after the two companies held talks following the rejection of the first takeover bid in April. Stockland acquired a 19.9 per cent stake in Australand in March….