[AusNOG] TPG acquires iiNet [SEC=UNCLASSIFIED]

[Guy Ellis]

http://www.asx.com.au/asx/research/company.do#!/IIN

Scroll down to the announcements.

On 13/03/2015 1:25 PM, Kai wrote:
> I'm inclined to focus more on the ASX information than anything I see in the media.
> Are we likely to see an official statement today? or probably Monday?
>
> ----- Original Message -----
> From: "Anthony Moore"
> To:"Sam Wilson" , "Chris Chaundy"
> Cc:"ausnog at lists.ausnog.net"
> Sent:Fri, 13 Mar 2015 12:50:42 +1100
> Subject:Re: [AusNOG] TPG acquires iiNet [SEC=UNCLASSIFIED]
>
>   Hi All,
>
>   According to the article in the ABC,
> http://www.abc.net.au/news/2015-03-13/tpg-to-buy-iinet-in-takeover-deal/6312910
> :
>
>   -----
>
>   Thus the deal will merge two of Australia's largest internet service
> providers, with over 1.7 million broadband subscribers combined, and
> will need approval from the Australian Competition and Consumer
> Commission to go ahead.
>
>   "The ACCC will commence a public review after receiving a submission
> from the parties," the regulator said in a statement.
>
>   "The ACCC reviews mergers and acquisitions which have the potential
> to raise concerns under the Competition and Consumer Act 2010 (CCA).
>
>   "The CCA prohibits acquisitions that would have the effect, or be
> likely to have the effect, of substantially lessening competition in a
> market."
>
>   -----
>
>   Anthony
>
>   -----Original Message-----
>   From: AusNOG [mailto:ausnog-bounces at lists.ausnog.net] On Behalf Of
> Sam Wilson
>   Sent: Friday, 13 March 2015 9:55 AM
>   To: Chris Chaundy
>   Cc: ausnog at lists.ausnog.net
>   Subject: Re: [AusNOG] TPG acquires iiNet
>
>   From the ASX paperwork [1];
>
>   "Limited conditionality: the Scheme is subject only to limited
> conditionality, and is not subject to finance nor due diligence."
>
>   Ultimately, I guess that means short of ACCC it is as good as done.
>
>   1 - http://www.asx.com.au/asxpdf/20150313/pdf/42x7skx29vmnvt.pdf
>
>   On Fri, Mar 13, 2015 at 8:42 AM, Chris Chaundy  wrote:
>
>   Not if the ACCC says "no".
>
>   Sent from my iPhone
>
>   On 13 Mar 2015, at 09:37, Noel Butler  wrote:
>
>   Correct, but since the iinet board has unanimously accepted TPG's
> offer, its only a matter of paperwork now, so its as good as done
> deal.
>
>   On 13/03/2015 08:33, Peter Lawler wrote:
>
>   On 13/03/15 09:11, Andrew Yager wrote:
>
>   TPG has acquired iiNet
>
>   I think you'll find that this is a proposal and has not actually
>   happened yet.
>
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-- 
Guy Ellis
guy at traverse.com.au
www.traverse.com.au
T: +61 3 9386 4435 M: +61 419 398 234