Uniti (ASX:UWL) receives multiple acquisition approaches

Company News

by Lauren Evans

Uniti (ASX:UWL) has received approaches from more than one party indicating potential interest in an acquisition of the company.

The internet and telecommunications provider said that the approaches do not include detail of timing, price or conditions. It noted there is no guarantee that the approaches will result in any substantive proposals emerging.

The company made the announcement in relation to its prior proposal to undertake an on-market share buyback, which was subject to its prevailing share price, market conditions and alternate uses of capital.

Shares in Uniti (ASX:UWL) are trading 9.4 per cent higher at $4.12.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.