Vocus Group Ltd ("Vocus", ASX: VOC) refers to recent press speculation and confirms that it hasreceived a confidential non-binding, indicative proposal from Macquarie Infrastructure and RealAssets Holdings Pty Limited and its managed funds (together “MIRA”) to acquire 100% of theshares of Vocus via a scheme of arrangement at a price of $5.50 per share (“the Proposal”).
TheBoard notes that the Proposal is subject to a number of conditions including satisfactorycompletion of due diligence by MIRA; MIRA securing debt financing; unanimous recommendationby the Vocus Board; and entry into a mutually acceptable scheme implementation agreement.
Any scheme implementation agreement would also be subject to a number of conditions,including shareholder, court and regulatory approvals.After consideration by the Board and its advisers, the Board has concluded that it is in the bestinterests of Vocus shareholders to explore the potential for a transaction with MIRA, and hasgranted MIRA due diligence access to enable MIRA to potentially put forward a binding proposal.
VOC Price at posting:
$4.38 Sentiment: Hold Disclosure: Held
