Court clears PIPE to hold vote on TPG buyout offer

Court clears PIPE to hold vote on TPG buyout offer

Subsea cable operator PIPE Networks has announced that Queensland’s Supreme Court has approved the company’s request to call a vote on the acquisition offer by TPG Internet.

The court has reviewed the scheme booklet detailing the offer, and allowed the company to send it out to shareholders. A meeting on the $6.30 per share acquisition offer will be held on March 12.

The booklet includes a report from independent auditor Ernst and Young, which states that the scheme is in the best interest of PIPE’s shareholders.

The company’s board has also urged shareholders to approve the offer.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionspipeTPG Internet

More about TPG Telecom

Show Comments