News
The British fibre network operator has been the subject of long running interest from a number of investors
MEIF 6 Fibre, an investment fund headed up by Macquarie Infrastructure and Real Assets, has emerged as the winning bidder in an auction to take ownership of UK fibre network provider, KCom.
MEIF 6 Fibre paid £627 million with its winning bid..
KCom provides ultrafast fibre broadband services to over 140,000 consumers and businesses in Hull and East Yorkshire. KCom has been the subject of a long running bidding war, as investors look to secure a winning bid.
MEIF 6 and The Universities Superannuation Scheme have been the main suitors looking to takeover at KCom, with both parties submitting a flurry of bids in recent months.
With neither bidder prepared to back down, the UK Takeover Panel earlier this month ruled that the matter be settled via auction. The ruling was accepted by all parties involved.
The auction process to determine who would take ownership of KCom was officially launched on the 7th June, with the price rising steeply from £563 million in early July, to £627 million today.
KCom’s board of directors has unanimously recommended that its shareholders accept the winning offer, which values the company at 120.3p per share.
Also in the news:
Macquarie fund leads the way on KCom acquisition
KCom target of £500m takeover bid
