AGL Energy to acquire Vocus for $2.1bn.

AGL Energy, an Australian listed public company involved in both the generation and retailing of electricity and gas for residential and commercial use, offered to acquire Vocus, a specialist fiber network services provider operating in Australia, for $2.1bn. Vocus Managing Director and CEO, Kevin Russell said: "After last week's announcement that discussions with EQT Infrastructure had ceased, AGL returned with a non-binding and indicative proposal to acquire Vocus for A$4.85 ($3.37) per share. There is a clear market opportunity for Vocus, which is generating significant interest in our business and our assets. We are focused on executing our turnaround strategy and delivering the opportunity in front of us. However, we have been clear that the Board will always act in the best interests of our shareholders to engage with credible parties that bring forward proposals that are worthy of further consideration.” EQT Partners, a Swedish private-equity firm, previously offered to acquire Vocus Group for $2.3bn. EQT dropped the bid on June 4, 2019. Affinity, KKR and Broofield also expressed their interest in bidding for Vocus.