Australia's Uniti Group hits record high on accepting bid from consortium

Uniti (Delaware)

14/04/2022 01:48

** Shares of Uniti Group  UWL.AX  rise as much as 3% to hit
a record high of A$4.970
    ** The telecom firm says it has agreed to be bought out by a
unit of Canada's Brookfield Asset Management Inc  BAMa.TO  and
fund manager Morrison & Co for about A$3.62 bln ($2.70 bln)
 urn:newsml:reuters.com:*:nL3N2WB3QN
    ** Under the deal, Uniti shareholders will receive A$5.0 for
each share, representing a premium of 58.7% to the stock's
closing price on March 14
    ** Uniti's board unanimously recommended that its
shareholders vote in favour of proposal from the
Morrison-Brookfield consortium
    ** UWL is on track for a fourth straight session of gains 
    ** Stock up 8.3% this year as of last close  


($1 = 1.3396 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))