(Alliance News) - KCOM Group PLC on Friday said its shareholders have approved its takeover by MEIF 6 Fibre Ltd, with court approval expected on Tuesday next week.
Two weeks ago, telecommunications firm KCOM agreed a 120.3 pence offer, valuing it at GBP627 million, from MEIF 6, which is managed by Macquarie Infrastructure & Real Assets Europe Ltd. Shares closed 0.2% lower on Friday at 120p.
Macquarie won in a bidding war against Universities Superannuation Scheme Ltd, which made three unsuccessful offers.
KCOM shareholders have now passed, by over 99%, the resolution, and the court is expected to ratify the deal next week. KCOM will be delisted from the London Stock Exchange on Thursday next week.