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Telcos connect through $3bn merger
Two firms have advised on the merger of two telecommunication companies, worth a total of $3 billion.
Felicity Nelson
Firms: Allens (M2 Group); Minter Ellison (Vocus Communications)
Value: $3 billion
Area: M&A
Key players: The Allens team was led by corporate partners Mark Malinas (pictured) and Robert Simkiss, and competition partner Fiona Crosbie.
Deal significance: M2 Group provides 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.
According to a release by Allens, the merged company will become the fourth-largest integrated telco in Australia, with combined revenue of $1.8 billion per year.
Under the proposed merger, M2 Group shareholders will receive 1.625 Vocus shares for each M2 share.
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