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By Reuters Staff 2 Min Read (Reuters) - Australia’s Vocus Group said on Tuesday it had agreed to a A$3.5 billion ($2.68 billion) takeover offer from a consortium of a Macquarie fund and pension fund Aware Super, sending its shares to a more than four-year high. Last month, Macquarie Infrastructure and Real Assets Holding (MIRA) and Aware Super had agreed to team up for a A$5.50 per share non-binding offer for the Melbourne-based fibre network owner. The buyout offer from the Macquarie-led consortium, one of at least three approaches since 2019, is the highest from any recent suitor. Power supplier AGL Energy and Swedish private equity firm EQT Infrastructure dropped similar proposals after brief due diligence periods. ....
Macquarie buying Vocus, owner of Orcon and Slingshot, heading off NZX listing 9 Mar, 2021 04:37 AM 4 minutes to read Macquarie has entered an agreement to buy ASX-listed Vocus Group - owner of Orcon and Slingshot on this side of the Tasman - in a A$3.5 billion ($3.7b) deal, subject to investor and regulatory approval. The ASX-listed investment banking and infrastructure investment firm teamed with Aware Super - Australia s second-largest retirement fund - on its $5.50 per share offer. In recommending shareholders accept the deal - set to close in July if all approvals go to plan - Vocus chairman Bob Mansfield said in a statement to the ASX that the board had considered it against alternatives, including pressing ahead with the plan to list Vocus NZ business, then use the estimated $722 million proceeds to pay down debt. ....
Message : Required fields HOUSTON (Reuters) - Exxon Mobil Corp is suing Australia s Macquarie Energy in a Texas court to avoid paying $11.7 million for missed deliveries during last month s winter freeze in the central United States. The lawsuit, filed by Exxon s natural gas business, said the massive storm and state declarations of emergencies prevented it from fulfilling its supply commitment to Macquarie Energy, the second largest U.S. gas marketer. Exxon is asking the Texas court to rule that the massive storm, caused when an arctic air mass swept the central United States, was a natural disaster. Such a ruling would allow Exxon to break its contract with Macquarie without a penalty, overriding a demand from the Australian company that Exxon cover the wholesaler s $11.7 million in damages for missed deliveries. ....