News: SLC Superloop Says Rejection Of Indicative And Non-Binding Proposal From Aussie Broadband

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    Feb 26 (Reuters) - Superloop Ltd (SLC) :

    • REJECTION OF INDICATIVE AND NON-BINDING PROPOSAL
    • BELIEVES THAT INDICATIVE PROPOSAL IS OPPORTUNISTIC AND FUNDAMENTALLY UNDERVALUES SUPERLOOP
    • PROPOSED PURCHASE PRICE WILL BE ADJUSTED FOR ANY DIVIDENDS OR CAPITAL RETURNS MADE BY SUPERLOOP PRIOR TO TRANSACTION
    • BOARD DOES NOT INTEND TO ENGAGE WITH ABB ON INDICATIVE PROPOSAL
    • UNDER TERMS OF INDICATIVE PROPOSAL, SUPERLOOP SHAREHOLDERS TO RECEIVE 0.21 ABB SHARES FOR EACH SUPERLOOP SHARE HELD
    • INDICATIVE PROPOSAL IMPLIES VALUE OF A$0.95 PER SUPERLOOP SHARE
    • REJECTION OF INDICATIVE AND NON-BINDING PROPOSAL FROM AUSSIE BROADBAND
 
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$2.94
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