Deals
Vocus Ends Talks With KKR, Affinity on A$2.2 Billion Buyout
- Both buyout firms offered A$3.50 per share in cash for telco
- Vocus confident it can “return to sustainable organic growth”
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Vocus Group Ltd. ended talks with KKR & Co. and Affinity Equity Partners Ltd., which had made separate A$2.2 billion ($1.7 billion) bids for the Australian telecommunications company, saying it was confident of returning to sustainable growth.
After conducting due diligence both private equity firms informed Vocus they were unable to support a transaction on terms acceptable to the board, the Sydney-based company said Monday in a statement.