Australian fiber cabling firm Uniti Group Ltd. has agreed to a A$3.62 billion ($2.7 billion) takeover by a consortium led by HRL Morrison & Co. and Brookfield Infrastructure Partners.
The Adelaide-based residential broadband provider said Thursday it had agreed to a deal at A$5 per share, which represents a 58.7% premium to its undisturbed trading price on March 14. That’s an improvement from an earlier A$4.50 per share offer from the consortium first tabled in March. The group, MBC BidCo Pty Ltd, also includes pension fund Commonwealth Superannuation Corporation, Uniti said.
