The Vocus Group board has drawn out Affinity Equity Partners to match Kohlberg Kravis Roberts & Co's $2.2 billion indicative bid for the company, and now hopes it can smoke out more suitors for the embattled telecommunications business.
The pair of private equity giants will enter Vocus' virtual data room later this week and are likely to request about four weeks for due diligence. The board is expected to put a cut-off date for firm offers, but it is yet to determine when that will be.
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Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
