Aussie Broadbands Acquisition of Symbio

Australian telecommunications company (ASX: ABB), Aussie Broadband, has entered into a Scheme Implementation Agreement (SIA) to acquire Symbio Holdings Limited, a major player in voice, business, and unified communications in Australia. The acquisition will see Aussie Broadband acquire 100% of Symbio's shares through a Scheme of Arrangement, providing significant benefits to both companies.

Under the SIA, Symbio shareholders will receive AU$2.26 in cash and 0.192 Aussie Broadband shares for each Symbio share, totaling an implied value of AU$3.01 per Symbio share. This represents a premium of 26.6% to Symbio's undisturbed closing share price on July 31, 2023, and a 49.5% premium to Symbio's 1-month VWAP as of the same date. The acquisition has an implied equity value of AU$262 million and an enterprise value of AU$241 million.

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