EQT Infrastructure's Proposal for Vocus Seems Expensive
Vocus' extensive fibre infrastructure, which underpins its narrow economic moat, appears to have caught the eye of Swedish private equity group, EQT Infrastructure. EQT has made an indicative proposal to acquire Vocus for AUD 5.25 per share--a significant 35% premium to the last closing price of AUD 3.89, and a lofty 75% premium to our previous fair value estimate. We assign a 75% probability of the deal going through, and raise our fair value estimate to the probability-weighted average price o...Vocus Group is a telecommunications provider, providing telecommunications and other services to customers across Australia and New Zealand.
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