Uniti Sells For $3.6 Billion To Morrison-Brookfield
Telco network company Uniti has entered into a $3.6 billion sale deed with a consortium led by Morrison & Co and Brookfield.
The deal values the company at $5 a share – above the initial $4.50-a-share offer Morrison & Co made close to a month ago.
The Uniti board has unanimously recommended shareholders accept the deal, which goes to a vote in July.
“We have built a high-quality business with long-term annuity earnings, generated from best-in-class fibre access networks and telecommunications technologies,” Uniti CEO Michael Simmons said.
“Under its proposed new ownership, Uniti will continue to build upon its now established place as a successful, growing participant in the market for high speed, high quality, fibre access networks.”
The deal offers 4 per cent above Uniti’s last close of $4.82.