Australia's Uniti hits record high after superior buyout offer of $2.6 bln

Uniti (Delaware)

24/03/2022 01:19

** Shares of Australia's Uniti Group Ltd  UWL.AX  rise as
much 2.8% to A$4.8
    ** The telecoms firm receives a higher buyout proposal from
Macquarie Asset Management and Canada's Public Sector Pension
Investment Board that values co at A$3.44 billion ($2.58
billion)  urn:newsml:reuters.com:*:nL3N2VR00J
    ** The non-binding, incomplete and indicative offer of A$5
per Uniti share was superior to a A$4.50 per share offer last
week from Morrison & Co.
    ** Uniti's board is considering the terms of the new
proposal
    ** Shares hit record high 
    ** Stock has risen nearly 50% since March 14 - when it
entered exclusive talks with Morrison & Co.
    
($1 = 1.3348 Australian dollars)

 (Reporting by Indranil Sarkar in Bengaluru)
 ((Indranil.Sarkar@thomsonreuters.com;))