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