Vocus Group ends sale discussions

Company News

by Jessica Ellerm


Vocus Group Limited (ASX:VOC) has announced it has ceased discussions with two prospective bidders, KKR and Affinity Equity Partners.

Vocus announced in June of this year that KKR has approached the company with an offer to acquire 100 percent of the shares in Vocus for $3.50 in cash per share.

In July, Vocus announced a second bidder, Affinity Equity Partners, had also put forward a non-binding proposal.

The bidders have indicated they support the management’s strategic plans and transformation program but are unable to support a transaction on terms acceptable to the Board.

Vocus has announced it has forecast further revenue growth for FY18 of between $1.9B and $2B, citing this growth as a factor in concluding the sales process.

Shares in Vocus (ASX:VOC) closed 0.31 per cent higher on Friday at $3.22.

 

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