SYDNEY — Shares of Ingenia Communities Group rebounded more than 7% on Monday as a deadline arrived for the company's board to decide whether to back a takeover proposal from U.S. private equity firm Warburg Pincus over its own planned acquisition of homebuilder Peet.

Ingenia shares closed up 28 Australian cents, or 7.07%, at 4.24 dollars. The stock traded between 4.14 and 4.29 dollars, with nearly 2.9 million shares changing hands. The company has a market value of about 1.7 billion dollars.

The gain partly recovered losses from last week, when the stock tumbled more than 11% on Thursday and slipped a further 2% on Friday.

Warburg Pincus has offered 5.25 dollars per stapled security in cash, which it has described as its best and final offer in the absence of a........

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