A bidding war has been kick-started to acquire listed IT services company Bulletproof, as Sydney-based private firm AC3 made an official offer of $24.7 million, which is 38 per cent higher than an earlier bid by ASX-listed Macquarie Telecom.
Bulletproof has been resisting Macquarie's advances, but its independent board committee has recommended investors support the new 15.2¢ per share offer from AC3.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
