Curtain falls on Vocus as a listed company

Supreme court approves Macquarie Infrastructure/Aware Super consortium's scheme.

28 June 2021

On June 22, shareholders in telecommunications company Vocus (ASX: VOC) approved the scheme of arrangement with Voyage, a vehicle owned 50/50 by Macquarie Infrastructure and Real Assets Holdings.

It is a transaction we have thoroughly analysed since it was first announced on February 8, 2021, and most recently in a report titled "Corporate Action: Vote For Vocus' Scheme of Arrangement with MIRA/Aware Super Consortium" ($), published on 2 June 2021.

The scheme was subsequently approved by the Supreme Court of New South Wales on 24 June.

The $5.50 cash consideration for Vocus shareholders had already been factored into our $5.50 fair value estimate for the narrow moat rated group.

The curtain now falls on Vocus as an Australian Stock Exchange-listed public company, with its shares to be suspended from the close of trading on Friday, 25 June. As such, we will cease coverage of Vocus.

TELCO

VOCUS

AUTHOR

Brian Han
is a senior equity analyst in the equity research team at Morningstar

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