Australia's Uniti gets superior buyout offer valuing it at $2.6 bln (updated)

Uniti (Delaware)

24/03/2022 24:34

(Adds details of the bid, share performance)
    March 24 (Reuters) - Australia's Uniti Group Ltd  UWL.AX  on
Thursday said it has received a higher buyout proposal from
Macquarie Asset Management and Canada's Public Sector Pension
Investment Board that values the telecoms firm at A$3.44 billion
($2.58 billion).
    The non-binding, incomplete and indicative offer of A$5 per
Uniti share, which Uniti's chairman received by email on
Wednesday, was superior to a A$4.50 per share offer last week
from Morrison & Co.  urn:newsml:reuters.com:*:nFWN2VH19V
    Trading of Uniti shares was halted on Wednesday after media
reports about the bid. The stock has risen close to 50% since
March 14 when it entered exclusive talks with Morrison & Co.
    Uniti said its board was considering the terms of the new
proposal.
    
($1 = 1.3339 Australian dollars)

 (Reporting by Indranil Sarkar in Bengaluru; Editing by Sherry
Jacob-Phillips and Christopher Cushing)
 ((Indranil.Sarkar@thomsonreuters.com; Mobile:  +91
7022132226;))