Opticomm (ASX:OPC) Finally Approves Uniti (ASX:UWL) Acquisition

November 09, 2020 03:40 PM AEDT
Team Kalkine

The fibre-to-the-premises (FTTP) network operator OptiComm Ltd (ASX:OPC) shareholders have given approval for the takeover of the Uniti Group Limited (ASX:UWL) on 9 November 2020.

Via an announcement made today, the Uniti Group disclosed that 99.9% vote went in favour of the acquisition. OptiComm shall be seeking an approval from the Federal Court at a hearing on 12 November 2020.

The acquisition is anticipated to be finalized on 20 November.

Uniti Group consented to pay $6.67 per share to acquire OptiComm.

This marks an aggressive expansion for Uniti Group which, with a market capitalisation of $617 million, could witness it more than double in size.

Meanwhile, the OPC stock traded at $6.650 with a market capitalisation of 697.30 million and UWL traded at $ 1.38 with a market capitalisation of $727.50 million at 03:28 PM AEDT.

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