(Reuters) -Uniti Group has agreed to a nearly A$3.62 billion ($2.70 billion) takeover offer by a unit of Canada’s Brookfield Asset Management Inc and fund manager Morrison & Co, the Australian telecom firm said on Thursday.
Under the deal, Uniti shareholders will receive A$5.0 for each share, representing a premium of 58.7% to the stock’s closing price on March 14, a day before the telecom firm received an initial A$4.50 per share offer from the Morrison-Brookfield consortium.
Uniti’s board unanimously recommended that its shareholders vote in favour of proposal from the Morrison-Brookfield consortium.
The Australian firm was also subject to interest from Macquarie Group’s asset management arm and Canada’s Public Sector Pension Investment Board, which had also announced a A$5 per share bid to buy Uniti last month.
Macquarie did not immediately respond to a request for comment.
($1 = 1.3428 Australian dollars)
(Reporting by Harish Sridharan in Bengaluru; Editing by Vinay Dwivedi and Sherry Jacob-Phillips)
