Macquarie’s MEIF 6 Fibre subsidiary wins KCOM auction

15 Jul 2019

With the UK’s Takeover Panel having announced earlier this month that an auction would be conducted to determine a winning bidder for KCOM Group, Macquarie subsidiary MEIF 6 Fibre has emerged as the victor in this process. In a press release regarding the matter, the Takeover Panel confirmed that MEIF 6 Fibre’s offer of GBP1.203 (USD1.51) per share had trumped a rival bid of GBP1.130 made by UK-based pension fund Universities Superannuation Scheme Limited’s (USSL’s) Humber Bidco subsidiary.

In response to the development, KCOM Group’s directors have unanimously recommended that shareholders vote in favour of the MEIF 6 Fibre offer – which values the Hull-based telecoms provider at GBP627 million – saying that they found the terms of the bid to be ‘fair and reasonable’.

Australia, KCOM