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TPG won't raise bid for PIPE: executive chairman

TPG won't raise bid for PIPE: executive chairman

TPG Telecom (ASX:TPM) has confirmed that its $6.30 per share bid for PIPE Networks (ASX:PWK) is its best and final offer.

TPG considers $6.30 per PIPE share to be a very full and fair price…and accordingly TPG will not increase the price it is prepared to pay,” TPG executive chairman David Teoh said on Friday.

The PIPE board has unanimously approved the offer, and no superior proposal has been announced in the four months since TPG logged its proposal, he added.

PWK shares are today trading 3% lower at $6.010.

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Tags pipeTPG TelecomMergers and acquisitionsTelecommunications

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