Vocus Group Takeover Poised To Pass Penultimate Hurdle
The $3.5 billion takeover of telecom Vocus is expected to pass its penultimate hurdle today after the Foreign Investment Review Board cleared the acquisition last week.
Control of Vocus Group is being sought by Voyage Australia, a company owned by a consortium comprising Macquarie Infrastructure and Real Assets and its managed funds and Aware Super.
Vocus, Australia’s fourth-ranked telecom player, said it received notice on Friday from the FIRB that it had approved the takeover, but waited until Monday to release the news.
The only obstacle in the way now to the buyout is today’s shareholder vote after which the takeover will go to court for final approval.
Vocus investors will get their say on the sale on this morning with major shareholders having already publicly voiced their confidence in the deal.