[AusNOG] Amcom and Vocus in Trading Halt

[Skeeve Stevens]

Hi All,

Update from AFR:

Comment:

This result is better than I'd hoped... a Vocus buyout of Amcom is a WIN
for the wholesale industry and I think there is little risk of TPG causing
problems.  A great win for James and the team and the industry as a whole.

Vocus + Amcom + Superloop/Megaport Fibre + FirstPath Buildings is going to
be the biggest kickass wholesale provider.... Can't wait to see how it
comes together.

...Skeeve

-----

*AFR saying 30% premium for AMM – c$3.  Assuming $15m synergies is 8%-%9%
EPS positive first full year.*

*Vocus to buy Amcom at 30pc premium*

Vocus Communications has struck a recommended deal to acquire Amcom
Telecommunications at a 30 per cent premium.


Both companies went into a trading halt at lunchtime on Wednesday, ahead of
the deal’s announcement.


In October, Vocus raised its stake in Perth-based telco Amcom from 5 per
cent to 10 per cent for an estimated $50 million and offered to merge the
two companies.


Under Vocus’s proposal, Amcom shareholders would hand over their holdings
in exchange for Vocus shares. Both sides agreed the move could work as they
own fibre cable networks on different sides of the country that can be
combined to ­provide a better national service.


However, Vocus switched gears the following month, suggesting a friendly
acquisition that could create one of Australia’s biggest providers of
phone, internet and technology services, with a market capitalisation of
more than $1 billion.


At 1.30pm on Wednesday, Vocus had a market cap of $598.5 million while
Amcom was valued at $628.7 million.


The Australian Financial Review


...Skeeve

*Skeeve Stevens - *eintellego Networks Pty Ltd
skeeve at eintellegonetworks.com ; www.eintellegonetworks.com

Phone: 1300 239 038; Cell +61 (0)414 753 383 ; skype://skeeve

facebook.com/eintellegonetworks ;  <http://twitter.com/networkceoau>
linkedin.com/in/skeeve

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On 17 December 2014 at 09:07, Skeeve Stevens <
skeeve+ausnog at eintellegonetworks.com> wrote:
>
> Well, enquiring minds will speculate.
>
> Vocus and Amcom are both in trading halts.
>
> Not sure what I think about a combined Amcom and Vocus.... in theory it
> would be ok, but I'm concerned about TPG getting hold of that combined
> entity and how it would be a critical injury to the wholesale industry....
> but the big $$ guys will do what they do.
>
> ...Skeeve
>
> Skeeve Stevens - eintellego Networks Pty Ltd
> skeeve at eintellegonetworks.com ; www.eintellegonetworks.com
> Phone: 1300 239 038; Cell +61 (0)414 753 383 ; skype://skeeve
>
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