OptiComm says Aware Super has 'not made contact' since last takeover proposal

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OptiComm says Aware Super has 'not made contact' since last takeover proposal

Fibre broadband company OptiComm has revealed that Superannuation fund Aware Super has not made any further bids to acquire the company following a 15 October offer.

In an ASX announcement responding to a report on the Australian Financial Review, OptiComm said it has “not received any contact whatsoever” from Aware Super since Uniti Group’s updated proposal, which was submitted 15 October.

The AFR reported yesterday on its Street Talk column that OptiComm had “received a strong indication” from Aware Super that it will not be making any further takeover offers.

Aware Super, previously known as First State Superannuation (FSS), first submitted a proposal to buy OptiComm in early September, three months after Uniti Group first made its bid for $532 million.

Uniti matched the updated offer the following week, which was again matched by Aware Super in October. Uniti’s most recent offer of $6.67 per share, or just under $700 million was submitted the same month.

OptiComm said its directors reiterated that they unanimously recommend that shareholders vote in favour of Uniti’s proposal, unless a better bid comes along.

OptiComm’s virtual scheme meeting to approve Uniti’s proposal is scheduled for 6 November 2020.

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