In today’s briefing:
- Symbio (SYM AU): Aussie Broadband’s Superior Proposal
Symbio (SYM AU): Aussie Broadband’s Superior Proposal
- Symbio Holdings (SYM AU)‘s indicative proposal from Aussie Broadband Pty Ltd (ABB AU) is A$2.36 + 0.192 ABB shares per SYM share, 10.6% premium to Superloop Ltd (SLC AU)’s offer.
- The Board has declared ABB’s offer as the superior proposal and granted exclusive due diligence until 20 October. The Board intends to recommend a binding ABB proposal.
- Superloop’s offer was the final offer in the absence of a superior proposal. If it chooses to enter a bidding war, Superloop will need a higher cash component.
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