Ann: Trading halt, page-8

First 8 Last

Share
Profile

Follow
petepan

1,708 Posts.

17/12/14

15:46

Post #: 14475891
Share

Originally posted by arazad ↑

http://www.theaustralian.com.au/tec...-in-telco-tie-up/story-e6frgakx-1227159383039

AMCOM Telecommunications has accepted an offer to be bought out by data centre and telecommunications provider Vocus, in a deal that values the west coast telco at $635 million.
Both telcos entered into a trading halt this afternoon pending an announcement of the deal.
Banking sources have indicated to The Australian that Vocus Communications’ offer — which was first made in late October — will value Amcom (AMM) at about $2.40 a share.
Prior to the approach from Vocus (VOC) on October 28, Amcom was trading at $2.09.
Together the telcos will create a merged unit with a market cap worth $1.2 billion.
Perth-based Amcom has been locked in merger talks with east coast-based Vocus since late October, when Vocus chief James Spenceley increased his stake in the telco to 10 per cent.
That grab came with a proposal from Mr Spenceley to merge the two companies in a full scrip deal. In such a proposal, Amcom shareholders would exchange all their stock for shares in Vocus.
Amcom and Vocus sell cloud and telecommunication services to enterprise, government and corporate clients, but in different parts of Australia.
A merger between the two would create the third-largest provider of corporate and office telecommunications in Australia, after Telstra and Optus.
Shareholders in both Amcom and Vocus are believed to be backing the merger proposal.
Since Vocus’s proposal was made public late last month, shares in Amcom have surged more than 25 per cent.

Expand

Merger of equals. I am very happy.

VOC Price at posting: $5.71 Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

M4M

Macro, Norden set up transport solutions initiative for West Pilbara

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%

What's causing the cost-of-living crisis, and how to navigate it

IRX

InhaleRX snags $38.5M in funding from VC biotech funder Clendon

SNX

Sierra Nevada raises $2M for silver exploration at Blackhawk