Goldman Sachs to lead equity raising for Aussie Broadband's acquisition of Symbio

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 36 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 35%
  • Publisher: 90%

Business News

Goldman Sachs,Aussie Broadband,Symbio

Aussie Broadband has made a binding offer to acquire software group Symbio, with Goldman Sachs leading the equity raising. The final deal size and structure are still being finalized.

Sources said Goldman Sachs, who advised Aussie Broadband on the bid, would lead the equity raising. Fund managers were yet to receive term sheets, and the final deal size and structure were still being finalised.

It comes after Aussie Broadband agreed to pay $3.01 per share for Symbio in a cash and scrip bid, after gazumping rival bidder Superloop. The scheme bid represented a 26.6 per cent premium to the target’s undisturbed price on July 31. It said it would fund the purchase via 17 million shares in scrip to Symbio shareholders – about 7 per cent of the company – and new debt facilities worth $435 million which would also refinance Aussie Broadband’s existing debt.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Touching secret behind Aussie’s brand - after founder lost her locks following diabetes diagnosis7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Source: 7NewsSydney - 🏆 16. / 63 Read more »