(Reuters) -U.S. investment firm Starwood Capital Group on Wednesday confirmed it sweetened its buyout bid for Monmouth Real Estate Investment Corp to $1.92 billion.

Starwood raised its bid for Monmouth to $19.51 per share, representing an upside of about 1% to the stock’s last close.

Monmouth said last week it had received an unsolicited acquisition proposal from “a large private investment firm” for $19.51 per share. Starwood had previously offered the company $18.70 apiece.

The firm also said the consideration included a termination fee of $0.63 per share owed to Equity Commonwealth, which had planned to acquire Monmouth for $1.91 billion in stock.

Monmouth, whose shares are up 2.1% in premarket trade, could not be immediately reached for a comment.

Reporting by Shreyasee Raj in Bengaluru; editing by Uttaresh.V

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