Vocus bidders drop acquisition talks

21 Août, 2017, 10:14 | Author: Marc Bacque
  • Vocus bidders were unable to support the buy on terms acceptable to the board

"The board's focus continues to be to act in the best interests of all shareholders", Vocus chairman, David Spence, said.

Both bids were the same, offering $3.50 a share and pricing Vocus as being worth $2.2 billion.

Shares closed at $3.22 on Friday afternoon. Its brands include Dodo, iPrimus, Commander and Engin.

The company said in a statement today that, right through the due diligence process, the two bidders Kohlberg Kravis Robert and Affinity Equity Partners had indicated support for Vocus' strategic plans and transformation programme.

Both offered $2.2 billion and were afforded an opportunity to conduct due diligence on the telco.

Vocus said the private equity firms advised the company they were unable to meet the board's terms.

Most expensive British vehicle ever sold goes for $22.5 million
DBR1/1 was raced by Salvadori and Shelby alongside other heavyweights of the era; Stirling Moss, Jack Brabham and Reg Parnell. A 1995 McLaren F1 was auctioned by Bonhams for $15.6 million (£12 million) to set a record for a modern vehicle at auction.

Tanak, Jarveoja win Rally Germany as Ogier jumps to title lead
"I don't see any reason why we should not be able to fight for it, so we will fight for it". "It's a great feeling", said the 29-year-old Tanak.

"Bogus attempt to divert attention" - PCB slams Akmal for Arthur outburst
It has been reported that the 27-year-old was axed from the team and made to return to Pakistan after he failed to two fitness tests in two days .

All discussions with the bidders have now ceased.

"Throughout this process the company continued to pursue its standalone business plans and its transformation programme outlined at the company's recent investor day in June".

According to Vocus, its board then chose to "conclude the sale process" due to the company's positive outlook for FY18, which forecasts revenue growth to between AU$1.9 billion and AU$2 billion and underlying EBITDA growth to between AU$370 million to AU$390 million.

Vocus' full-year results will be out on Wednesday.

"This forecast growth is in spite of the headwinds created by the deferred subscriber acquisition cost benefit to EBITDA of approximately $41 million in FY17", the company said.

"Notwithstanding the competitive market conditions, and the increased costs associated with the migration of customers to the NBN, the Board is confident that the Company can deliver a return to sustainable organic growth following a year of transition in FY17".



David Pujadas remplacera bien Yves Calvi sur LCI
Il récupère la tranche horaire qu'occupait Yves Calvi , parti sur Canal +, du lundi au vendredi de 18 à 20 heures . Il avait présenté son dernier JT sur France 2 début juin .

Diplomatic immunity: How it could be granted to Grace Mugabe
South Africa's government said it had not yet decided whether to grant the request for diplomatic immunity. Seen as a potential successor to her husband, Grace Mugabe is known for her temper.

Divorce granted over lack of home toilet
The court after accepting the petition noted that there was indeed lack of a toilet at home which amounts to cruelty. In June, another woman refused to return to the home of her in-laws until they constructed a toilet.

Taxi crash kills 18
At least 18 people have died after a taxi crash in Mzunduzi Valley in Pietermaritzburg‚ KwaZulu-Natal‚ on Sunday, 20 August 2017. Three pedestrians who were walking on the side of the freeway were hit by one of the vehicles during the collision.

Barcelona attack reinforces need for global terror fight
Trump's tweet followed brief public remarks by Secretary of State Rex Tillerson conveying the same sentiments, Efe news reported . But "there is no evidence that Pershing himself" used pigs as a tactic against Muslim insurgents, Politifact wrote a year ago .

Hanson clashes with Greens on breakfast TV
One Nation's primary vote rose from 8 per cent to 9 per cent in the latest Newspoll while the Greens dropped one point. Senators and MPs have special identifying pins, and it was this pin Hanson had attached to her burqa.

Why do we feel inferior to Hollywood? asks Nawazuddin Siddiqui
Nawazuddin said, I felt "uncomfortable" initially while doing kissing scenes, but became used to it. He stated, "I am the highest-paid actor in the industry as far as acting is concerned.

Dix marins américains disparus après une collision en mer
La Marine a déclaré que les avions "Osprey" et les hélicoptères "Seahawk" participent aux opérations de secours. L'accident a eu lieu au petit matin alors que le destroyer se dirigeait vers le port de Singapour.

Charlottesville mayor calls for emergency meeting to remove Robert E. Lee statue
Piercy, who have grown only more emboldened after Charlottesville , believe that the political and media elite hold them and Mr. Republican Senator Bob Corker , chairman of the Senate Foreign Relations Committee, questioned Trump's capacity to govern.

Bluescope taps new CEO, warns earnings set to slide
The company has also announced CEO Paul O'Malley will end his 12 year tenure at BlueScope at the end of the year. However the result was below market forecasts of A$682 million, according to Thomson Reuters I/B/E/S.