Thursday, 27 July 2017

iiNet weighs up offers from two suitors, calls for higher bid

By Mary Lennighan, Total Telecom
Thursday 30 April 15

Australian ISP mulls A1.4bn cash offer from TPG and A$1.6bn bid from M2; gives former three days it raise its price.

Australian ISP iiNet has two suitors waiting in the wings and on Thursday called upon one of them – the first to make a takeover offer – to up its bid. Last month TPG Telecom agreed to acquire 100% of iiNet for A$8.60 per share in cash, valuing it at A$1.4 billion. However, iiNet announced it had received a counter…

Australian ISP iiNet has two suitors waiting in the wings and on Thursday called upon one of them – the first to make a takeover offer – to up its bid. Last month TPG Telecom agreed to acquire 100% of iiNet for A$8.60 per share in cash, valuing it at A$1.4 billion. However, iiNet announced it had received a counter…

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