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 joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.