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Reading: Uniti Group Enters Into $3.6bn match with Morrison-Brookfield consortium
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Tech Business News > Technology News > Uniti Group Enters Into $3.6bn match with Morrison-Brookfield consortium
Technology News

Uniti Group Enters Into $3.6bn match with Morrison-Brookfield consortium

Editorial Desk
Last updated: April 17, 2022 4:56 am
Editorial Desk
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Reaching a binding sale agreement.

Uniti Group signed a AU$3.62 billion takeover deed with a consortium led by New Zealand’s Morrison and Co and Canada’s Brookfield Asset Management.

Under the scheme implementation deed, MBC BidCo (MBC) is offering a cash price of AU$5.00 per Uniti share, valuing the deal at AU$3.62 billion and an enterprise value of approximately AU$3.73 billion.

Uniti managing director and CEO Michael Simmons said the value placed on Uniti by the Morrison/Brookfield Consortium is a testament to the strength of the Uniti business we have built over the last three years since our listing on the ASX in February 2019,

“We have built a high quality business with long-term annuity earnings, generation from best-in-class fibre access networks and telecommunications technologies.” he said

An announcement explains the acquisition will be conducted by the consortium’s jointly-owned unlisted company, MBC BidCo.

Last month, Uniti decided to favour the Morrison/Brookfield bid, and agreed to cease negotiations with Connect Consortium, which had put in a rival offer of around $3.4 billion.

ABOUT UNITI GROUP

Uniti Group Limited (ASX: UWL) (‘Uniti’) is a diversified provider of telecommunications services. Uniti operates three distinct Business Units (‘BU’), each aligned to a pillar of strategic growth and led by a separate Chief Executive and leadership team. The business units operate as independent businesses Each BU has its own business plan including legal and financial targets.

By Editorial Desk
The TBN team is a well establish group of technology industry professionals with backgrounds in IT Systems, Business Communications and Journalism.
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