Vocus receives indicative and non-binding proposal from EQT Infrastructure

Company News

by Anna Napoli

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.

 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.