TPG ups bid for iiNet

TPG has beaten M2's counterbid for iiNet – just – but there's likely more action to come in this Telecoms shakeout.

TPG Telecom has made its counter-play for iiNet, upping its bid to $9.55 (comprised of $8.80 in cash plus a special dividend of $0.75) from the previous $8.60.

The bid addresses some of the concerns of iiNet shareholders by incorporating the special dividend as well as a share alternative (of 0.969 TPG shares per iiNet share, subject to a maximum of 27.5m new TPG shares being issued).



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