Allens has advised M2 Group Ltd on its proposed $3 billion merger with Vocus Communications.
Under the proposed merger, announced today, M2 Group shareholders will receive 1.625 Vocus shares for each M2 share. The proposal will need to be approved by shareholders and is subject to other customary conditions.
M2 Group provides a full suite of traditional and next generation telecommunications products and utility services to Australian households and small-to-medium businesses. Vocus Communications is an ASX-listed telecommunications provider of data centre, dark fibre and international internet connectivity across Australia, New Zealand, Singapore and the US.
It has been reported that the merged company would become the fourth-largest integrated telco in Australia and the third-largest in New Zealand, with combined revenue of $1.8 billion per year.
The Allens team on the matter was led by Corporate Partners Mark Malinas and Robert Simkiss, and Competition Partner Fiona Crosbie.
Mark said the firm was proud to have advised M2 Group on the latest of a string of large, strategic deals for the growing company.
'We advised M2 Group on its acquisition of the Call Plus Group and its bid for iiNet earlier this year,' he said.
'It is always exciting to be advising a company like M2 Group that is ambitious and is looking to take advantage of the opportunities in the market.
'The telecommunications industry is dynamic and evolving quickly. The rollout of the NBN in Australia provides opportunities for many players in the telco sector. We see there being more opportunities for mergers and acquisitions in the Asia Pacific market over the next 12 months.'
Allens legal team
Mark Malinas (Partner), Robert Simkiss (Partner), Fiona Crosbie (Partner), Michelle Bennett (Managing Associate), Rosannah Healy (Managing Associate), Ben Copeland (Senior Associate), Amy Biggins (Lawyer), Kelly Roberts (Lawyer).
Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.