Vocus Opens Books To AGL Energy In Takeover Talks
Vocus Communications has exclusively opened its books to AGL Energy after a private equity firm withdrew its rival takeover bid last week.
AGL will have four weeks to conduct due diligence on the communications company, which owns several consumer and business communications brands in Australia and New Zealand including Dodo, iPrimus and Commander.
The company have put forward a non-binding offer of $4.85 a share, after Swedish private equity firm EQT Infrastructure withdrew its original offer of $5.25 a share last week.
It’s understood the listed energy retailer is seeking to pair its energy offering with a data and communications service in order to become a “one-stop-shop” for customers, as well as capitalise on Vocus’ existing enterprise and business focused services to win over large volume customers.
The company also said a merger would allow it to “develop new and innovative products and services for customers as energy and
data products and services converge further in the future”.
This marks the fourth time Vocus has opened its books in the past two years.