Vocus gets rival takeover bid from Affinity

Nieuws Breedband Australië 11 JUL 2017
Vocus gets rival takeover bid from Affinity
Australian operator Vocus Group has received a second unsolicited takeover bid, from private equity group Affinity. The new offer matches the bid of AUD 3.50 per share received from KKR in early June. 

Earlier this month Vocus granted KKR the right to non-exclusive due diligence, and the company said it would do the same with Affinity. Vocus added that the Affinity offer is subject to a number of conditions similar to those of KKR's bid. 

The Vocus board is now starting a formal process to see whether or not it can secure a takeover offer in the best interests of shareholders. 

Vocus's share price recently dipped below KKR's price, but has since recovered to over AUD 3.50 after the announcement on Affinity's bid. 

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Vocus

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M&A buyouts & divestments

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