Vocus Group receives indicative takeover proposal

Company News

by Jessica Amir

Vocus Group Limited (ASX:VOC) has received a proposed takeover offer from a global investment manager, to buy 100 per cent its shares for $3.50 cash per share.

The telecommunications firm received the preliminary, indicative, non-binding proposal from Kohlberg Kravis Roberts and its affiliates.

The indicative proposal is subject to due diligence, finance and a unanimous recommendation by the Vocus Group Board, amongst other conditions.

The company says the proposal is also based its EBITDA ending 30 June 2017, falling into its guidance of $365 million to $375 million.

Shares in Vocus Group Limited (ASX:VOC) last traded at $2.86.
 

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