Aware Super, the former First State Super which rebranded following its merger with WA Super, has upped its bid for Australia’s OptiComm amid a heated takeover battle with Uniti Group, Reuters reports.
OptiComm is one of Australia’s largest open-access, fiber-to-the-premises (FTTP) wholesale network infrastructure operators, according to the company’s website. The company specializes in designing, installing, operating and maintaining fiber-based, fixed-line access telecommunication networks.
Aware Super’s latest offer was for A$676.5 million ($484 million), representing A$6.5 ($4.6) per share, a 9 percent premium to OptiComm's last closing price. In addition, this offer was around 11 percent higher than the A$5.85 ($4.19) per share offer made by Uniti in September.
Uniti, which set the takeover battle in motion in June, has three days to come up with a counter offer, according to Reuters.
