Macquarie Telecom Group’s takeover red lighted by Bulletproof board

Company News

by Jessica Amir

Macquarie Telecom Group’s (ASX:MAQ) takeover offer of cloud and hosting services business Bulletproof Group (ASX:BPF) has been rejected by its board.

The cloud hosting and data centre company’s bid was rejected by the target's board, despite the offering becoming unconditional yesterday.

Macquarie Telecom Group is offering to takeover Bulletproof Group for 11 cents per share.

Earlier this month the Australian Government’s takeover panel announced it was not against the takeover.

Shares in Macquarie Telecom Group (ASX:MAQ) closed 2.9 per cent higher yesterday to $16.98

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.