Current price: A$4.3/share
Offer: A$4.85/share
Spread: 13%
4th largest Australian telecommunications company Vocus (VCMMF) has received a non-binding offer priced at A$4.85/share from one of the Australia's largest energy providers AGL Energy (AGLNF). The buyer has been granted a four weeks' due diligence after which a binding offer may be announced. The price is expensive, but the upside reflects market's precaution as three other buyers have already walked away (here and here) after due diligence. From valuation perspective the price also looks quite expensive. All in all, I don't