Vocus Communications has entered a scheme implementation deed for 100% of the stock with MIRA/Aware at $5.50 cash a share. The scheme has been unanimously recommended by the board.
UBS suggests there is a possibility of another bidder and a break fee of $35m has been disclosed. Neutral rating and $5.50 target retained.
Sector: Telecommunication Services.
Target price is $5.50.Current Price is $5.43. Difference: $0.07 – (brackets indicate current price is over target). If VOC meets the UBS target it will return approximately 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
