Vocus Group (ASX:VOC) has confirmed media reports of a non-binding takeover bid from Macquarie Infrastructure and Real Assets Holdings.
The offer for the Telco is $5.50, a 25.6 per cent premium to its last closing price of $4.38 a share.
The Vocus board says it has granted Macquarie access to the data room to enable it to put forward a binding proposal.
The proposal is subject to a number of conditions including satisfactory completion of due diligence by MIRA, MIRA securing debt financing and a unanimous recommendation by the Vocus board.
It’s the third takeover offer the company has received since 2018.
Shares in Vocus (ASX:VOC)
are trading 15.07 per cent higher at $5.04