About a month ago, infrastructure-focused telco Uniti Group was in the doghouse. Shares plunged 12 per cent in a single session after it failed to deliver on lofty growth expectations in the first half, as 2021’s COVID-19 lockdowns devastated construction activity.

But the tables have turned since Uniti’s interim results on February 22, when its share price languished at $3.27. Powered by competing takeover bids from Morrison & Co and Macquarie, the price is now $4.75 with more upside to come should a real battle be pitched.