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Australia's Vocus opens books for KKR to conduct due diligence
July 4, 2017 / 10:59 PM / 3 months ago

Australia's Vocus opens books for KKR to conduct due diligence

July 5 (Reuters) - Vocus Group Ltd said on Wednesday it would allow KKR & Co LP to conduct due diligence on a non-exclusive basis, after the private equity giant made a $1.66 billion takeover offer for the Australian internet company in June.

“We believe it is in the best interests of shareholders to grant KKR due diligence to explore whether a potential whole of company proposal is available that takes into account the benefits that the plan delivers,” Vocus Chairman David Spence said in a statement.

Vocus also added that its shareholders do not have to take any action at this time.

Reporting by Anusha Ravindranath in Bengaluru; Editing by Jonathan Oatis

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