(Alliance News) - KCOM Group Ltd said Wednesday that Universities Superannuation Scheme Ltd, a UK pension scheme for universities and other higher education institutions, has increased its offer for the telecommunications firm.
The scheme is now offering 110 pence per KCOM share, valuing the company at GBP573 million.
This announcement came after Macquarie European Infrastructure Fund 6 SCSp, a unit of Australian investment bank Macquarie Group Ltd, raised its offer for KCOM to 109.5p per share, valuing it at GBP571 million.
Shares in KCOM Group closed 1.2% at 115.40p on Wednesday.
Humber, a subsidiary of Universities Superannuation Scheme Ltd, originally offered 97p per KCOM share in April. This was then topped in early June by Macquarie Infrastructure, who offered 108p. Humber retaliated by upping its offer to 108.5p in July.