Announced
Macquarie to acquire KCOM for £628m.
Financials
Sources
Recommended Cash Acquisition
Universities Superannuation Scheme -
RNS Announcement
Universities Superannuation Scheme -
Wthdrawal of recommendation
KCOM -
RNS Announcement
Macquarie -
RNS Announcement
KCOM -
Extension of lapsing dates
Universities Superannuation Scheme -
Increased Cash Offer
Macquarie -
Increased Cash Offer
Universities Superannuation Scheme -
Increased Cash Offer
Universities Superannuation Scheme -
Third Revised Cash Offer
Universities Superannuation Scheme -
Revised Increased Cash Offer
Macquarie -
Rule 32.5 Announcement
Universities Superannuation Scheme -
Lapse of Offer
Universities Superannuation Scheme -
Confirmation of Stated Post-offer Intentions
Macquarie -
Tags
it services
Public
United Kingdom
Acquisition
telecommunication services
IT Services: Other
Majority
Pending
Friendly
Single Bidder
Private Equity
Synopsis
Macquarie Group won the bidding war against USSL, a pension scheme in the United Kingdom, to acquire KCOM, a UK communications and IT services provider, with a £628m ($787m) bid. Macquarie's final offer represented a premium of 66% to the closing price of 72.5 pence for each KCOM share on 23 April 2019. KCOM said it found the offer to be fair and reasonable, and recommended shareholders to vote in favor of it. "We are pleased that the KCOM Board is recommending our takeover offer. KCOM has a strong local heritage that has been developed over more than a century and is well-positioned to continue to meet the evolving telecommunications needs of the region, which is why we have made this compelling offer to shareholders at an attractive premium," Leigh Harrison, MIRA EMEA Head.
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