Australia’s Uniti raises takeover offer for OptiComm to $495 mln

Uniti Group Ltd hiked its takeover offer for OptiComm Ltd on Thursday to A$694.2 million ($495.38 million), nearly 3% higher than pension fund Aware Super’s bid, ratcheting up the battle for the fibre infrastructure provider.

The telecom services firm announced a cash plus stock offer of A$6.67 per share for OptiComm, its third offer, coming three days after Aware Super made an improved A$6.5 offer.

OptiComm said it will back Uniti’s “superior” offer.