IiNet Shareholders Grab Stock
TPG’s original offer for iiNet, details of which were
revealed in March, was cash only. However, a competing offer by M2 led to TPG
revising its offer.
The revised offer, which received the unanimous support of iiNet’s board, gave
TPG shares available under the revised offer were capped at 27.52 million.
Because demand for TPG shares exceeded the cap, the scheme will be subject to