KCOM receives £563m bid from Macquire

KCOM has announced a higher takeover bid for the company from Macquire Infrastructure worth £563m.
By Mark Casci
Published 3rd Jun 2019, 09:16 BST
ADOBE STOCK Investor analyzing stock market report and financial dashboard with business intelligence (BI), with key performance indicators (KPI).businessman hand working with finances about cost and calculator.ADOBE STOCK Investor analyzing stock market report and financial dashboard with business intelligence (BI), with key performance indicators (KPI).businessman hand working with finances about cost and calculator.
ADOBE STOCK Investor analyzing stock market report and financial dashboard with business intelligence (BI), with key performance indicators (KPI).businessman hand working with finances about cost and calculator.

The Hull-based telecommunications provider in April had agreed to a £504 million acquisition offer from Humber Bidco, a subsidiary of the Universities Superannuation Scheme.

However KCOM is now withdrawing its recommendation for USS in favour of the offer from Macquarie.

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A statement said: “In evaluating the MIRA Offer, the board of KCOM has considered various aspects of the MIRA Offer and considers the MIRA Offer to represent a superior offer for KCOM’s shareholders as compared to the USS Offer.”

KCOM said that Macquarie offered 108 pence per share, 11p higher than the offer from USS.

Related topics:Hull