AMWatch

EQT bids USD 2.3bn for a more than 23,000 kilometers of fiber cable Down Under

Vocus Group Ltd. said it received a takeover offer from a Swedish infrastructure investment firm that values the Australian telecommunications company at USD 2.3bn.

The A$5.25 (Australian dollar) per-share cash bid from EQT Infrastructure represents a 35 percent premium to the stock’s last close on Friday.

EQT has been given non-exclusive due diligence access and the proposal includes several conditions, Vocus said in a statement Monday.

Vocus shares soared as much as 26 percent to A$4.90 in Sydney on Monday, shy of the offer price. There’s no guarantee there will be a formal offer for Vocus and shareholders do not need to take any action, the company said.

The latest offer for Vocus is the third in two years after the Sydney-based company ended talks with two private-equity firms for a potential sale in 2017.

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