Deals
Vocus to Buy M2 for $1.35 Billion Amid Australia Phone Deals
- Offer is 25 percent higher than M2's closing price Friday
- M2 shareholders will own 56 percent of enlarged group
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Vocus Communications Ltd. agreed to buy M2 Group Ltd. in a A$1.93 billion ($1.35 billion) deal that will be Australia’s largest telecommunications acquisition in more than four years.
M2 investors will receive 1.625 Vocus shares for each one they own, according to a statement from both companies Monday. That values M2 stock at A$10.55 a share, 25 percent more than the stock’s closing price Friday.