Superloop end exclusive takeover discussions with QIC

Company News

by Rachael Jones

Last Movement
$0.775 -$0.038 -4.62%
Data Source:
Last Updated: 28/02/2020 2:08 PM

Computer support company Superloop (ASX:SLC) has ended exclusive discussions with QIC Private Capital about a takeover from them.

On 3 May 2019 the company received an unsolicited, non-binding, conditional and indicative proposal from QIC on behalf of its Global Infrastructure managed and advised funds and clients to acquire Superloop for $1.90 per share.

The Superloop Board with QIC have not been able to agree on a transaction and on that basis, the parties have decided to discontinue the period of exclusivity.

Shares in Superloop (ASX:SLC) are trading 10.65 per cent lower at $1.72.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.