(Alliance News) - The two suitors for telecommunications firm KCOM Group PLC have once again upped their offers, they announced on Friday.
Macquarie European Infrastructure Fund 6 SCSp, which is managed by Macquarie Infrastructure & Real Assets Europe Ltd, has increased its offer for KCOM to 120.3 pence per share in cash, valuing KCOM at GBP627 million.
Meanwhile, Universities Superannuation Scheme Ltd has made a third offer for KCOM at 113p, valuing KCOM at GBP589 million.
These moves come after on Thursday Macquarie upped its bid to 110.8p from 109.5p before. That offer was made because on Wednesday USS made a new 110p offer, trumping Macquarie's 109.5p offer which stood at the time.
USS's original offer was 108.5p, made on Monday, after an initial bid of 97p. The 108.5p bid was surpassed by Macquarie's 109.5p bid on Tuesday.
KCOM shares closed 0.2% lower on Friday at a price of 115.20p, having been at just 57.70p last November.