Affinity Equity Partners matches Kohlberg Kravis Roberts & Co in hunt for Vocus

Max Mason, Sarah Thompson and Anthony Macdonald

Updated Jul 11, 2017 – 6.10pm, first published at 5.15pm

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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.

Max Mason covers financial crime, courts 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

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.

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.