Chanticleer
First State Super's deal could be the most important of the year
The battle for a little-known telco is a big moment for Australian capital markets. Super funds are now prepared to take listed firms private on their own.
The most important deal of the year just might involve two companies you’ve never heard of, and a superannuation fund determined to pull off an Australian first.
First State Super’s $600 million offer for junior telco Opticomm, which arrived just two days before shareholders were set to vote on a takeover bid from rival Uniti, is the first time a super fund has launched a direct bid for an ASX company.
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