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- Aussie Broadband (ASX:ABB) to acquire Symbio for $2.26 in cash and 0.192 Aussie Broadband shares per share
- The deal values Symbio at $3.01 per share
- The scheme is subject to customary conditions, including approval by Symbio shareholders at the scheme meeting
- The Symbio board unanimously recommends shareholders approve the scheme
- Aussie Broadband last traded at $3.92
Aussie Broadband (ASX:ABB) has entered into a scheme implementation agreement to acquire Symbio for $2.26 in cash and 0.192 Aussie Broadband shares per share.
The deal values Symbio at $3.01 per share, based on Aussie Broadband’s closing price on October 31, 2023.
The Symbio board has unanimously recommended that shareholders vote in favour of the Scheme, provided there is no superior proposal.
The scheme is subject to customary conditions, including approval by Symbio shareholders at the scheme meeting.
The acquisition is expected to be EPS-accretive in the first full financial year after completion, before synergies. It will also provide Symbio shareholders with options for their consideration and an attractive premium over the trading price.
The scheme is expected to be implemented in February 2024.
The acquisition is expected to accelerate Aussie Broadband’s growth, create new opportunities, increase scale, strengthen financials, and provide access to new capabilities.
Aussie Broadband last traded at $3.92.
