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Brookfield-Led Group Nears $2.5 Billion Uniti Takeover

  • Broadband provider agrees deal with HRL Morrison, Brookfield
  • Consortium has been in exclusive talks with Uniti on takeover
Updated on

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.