MELBOURNE, Australia--Asset manager EQT has secured access to Vocus Group Ltd.'s (VOC.AU) books after pitching a non-binding takeover offer that values the Australian telecommunications provider at about 3.27 billion Australian dollars (US$2.26 billion). In a statement Monday, Vocus said EQT Infrastructure is offering A$5.25 a share in cash, a 35% premium to the last closing price on Friday. In February, Vocus parted ways with Geoff Horth, who had been chief executive since February 2016 when the company completed the acquisition of another telecom company, M2 Group. EQT, a global alternative asset manager supported in part by Investor AB, last week said its EQT Infrastructure IV had signed an agreement to acquire Melita, a telecom operator in Malta. In March, closed its largest infrastructure fund yet, after it EQT Infrastructure IV held a one-and-done close at EUR9 billion (US$10.7 billion) after an about six-month fundraising process.

Source: Wall Street Journal May 27, 2019 00:56 UTC