- Network solutions provider Vocus Group (VOC) has seen its share price soar after the company confirmed it had received a multi-billion-dollar takeover deal
- Macquarie Infrastructure and Real Assets (MIRA) has offered to acquire 100 per cent of VOC shares for $5.50 per share
- The board of Vocus has advised shareholders it’s in their best interest to allow MIRA to progress its proposal and carry out due diligence
- This is the second time in less than two years that the company has received a takeover bid, with AGL Energy (AGL) making a play for VOC in early 2019
- Shares in Vocus have jumped over 10 per cent since the MIRA takeover bid was announced, currently trading up 14.2 per cent at $5 per share
Network solutions provider Vocus Group (VOC) has seen its share price soar after the company confirmed it had received a multi-billion-dollar takeover deal.
The company said Macquarie Infrastructure and Real Assets (MIRA) has offered to acquire 100 per cent of VOC shares for $5.50 per share.
In response to the offer, the board of Vocus has advised shareholders it’s in their best interest to allow MIRA to progress its proposal.
The offer itself is reliant on a number of conditions being met, including completing due diligence and obtaining regulatory and shareholder approval.
This is the second time in less than two years that the company has received a takeover bid.
AGL Energy (AGL) made a play for VOC back in the first quarter of 2019, but the deal fell through a few months later.
Commenting on this recent proposal, Vocus advised it had appointed Credit Suisse as its financial advisor and Allens as its legal advisor for the offer.
Next steps for Vocus include allowing MIRA to undertake its due diligence over the coming weeks.
Shares in Vocus Group have jumped over 10 per cent since the MIRA takeover bid was announced in early trade.
VOC shares are now trading at $5 per share, up 14.2 per cent at 1:04 pm AEDT.