Bidding war underway for iiNet

Bidding war underway for iiNet

AAP A bidding war has erupted for internet provider iiNet, with M2 Group putting forward an offer it hopes will trump a proposed deal with rival TPG Telecom. The offer would see iiNet shareholders receive $9.25 worth of M2 stock for every share they own, plus a special dividend of 75 cents. TPG started the bidding war in March with an all-cash $1.4 billion offer, which iiNet recommended to its s…

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