Telecommunications company, Vocus Group (ASX:VOC) has received a confidential, nonbinding, indicative proposal from EQT Infrastructure.
The offer to acquire all of the shares in Vocus at a price of A$5.25 per share in cash, would be implemented by way of a scheme of arrangement.
The Indicative Proposal is subject to a number of conditions, including completion of due diligence and securing the unanimous recommendation from the Vocus Board.
After consideration by the Board and the Company's advisers, the Board decided to grant non-exclusive due diligence access to EQT to enable EQT to potentially put a formal binding proposal to Vocus.
Shares in Vocus Group (ASX:VOC) are trading 22.49 per cent higher at $4.76.