Brief: Aussie Broadband Announces Non-Binding Indicative Proposal To Merge With Superloop

Superloop

26/02/2024 01:40

Feb 26 (Reuters) - Aussie Broadband Ltd  ABB.AX :
    * NON-BINDING INDICATIVE PROPOSAL TO MERGE WITH SUPERLOOP
    * SUBMITTED A NON-BINDING INDICATIVE PROPOSAL WHICH WOULD
RESULT
IN ABB OWNING 100% OF ISSUED SHARE CAPITAL IN SUPERLOOP
    * UNDER THE INDICATIVE PROPOSAL, SUPERLOOP SHAREHOLDERS
WOULD
RECEIVE 0.21 ABB SHARES FOR  EACH SUPERLOOP SHARE HELD
    * DEAL IMPLIES A TOTAL VALUE TO SUPERLOOP SHAREHOLDERS OF
A$0.95
PER SHARE
    * NOTES THERE IS NO CERTAINTY THE INDICATIVE PROPOSAL WILL
RESULT
IN ANY TRANSACTION
    * HAS ALSO ACQUIRED A 19.9% RELEVANT INTEREST IN SUPERLOOP
AT
A$0.95 IN CASH PER SHARE
    * AT THIS TIME, AUSSIE BROADBAND SHAREHOLDERS DO NOT NEED TO
TAKE
ANY ACTION IN RELATION TO THE INDICATIVE PROPOSAL

Source text for Eikon:  ID:nASX8c1KfM 
Further company coverage:  ABB.AX 

 ((Reuters.Briefs@thomsonreuters.com;))