Minter Ellison, Allens on Latest Aussie Telecom Merger
Vocus Communications is offering $1.4 billion to acquire M2 Group in a deal that would create Australia's fourth-largest telecommunications company.
September 29, 2015 at 02:07 AM
2 minute read
Minter Ellison and Allens are advising on a potential merger between Australian telecommunications companies M2 Group Ltd. and Vocus Communications Ltd.
The deal would create a new player with a market capitalization of $2.1 billion, ranking it fourth in the sector and third in New Zealand, and combined revenues of $1.3 billion. Telstra Corp., Australia's largest telecom company, has a market cap of $47.1 billion.
In the all-stock transaction, M2 shareholders will get 1.625 Vocus shares for each M2 share they own, valuing the target company at $1.4 billion. M2's board of directors has approved the deal, and shareholders are expected to vote on the merger early next year.
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