The board of Investa Office Fund has agreed to a $2.5 billion takeover bid from rival Dexus Property Group. The two property investment trusts have entered into a binding agreement to complete the merger, which will create the largest Australian office trust, with combined assets worth $24.1 billion. The agreement follows an offer from Dexus earlier this month, under which it offered to pay 0.424 Dexus securities and up to 82.29 cents in cash for every IOF unit.