$5.10 (or 3.422 UWL shares @$1.54 last close = $5.27) plus a 10c fully franked special dividend.
From the release:
"The OptiComm directors unanimously recommend that OptiComm shareholders vote in favour of the Scheme and will vote their interests in favour of the Scheme"
Uniti are being very opportunistic. I can't imagine why OPC directors are enthusiastic about this offer.