The certainty of the revised TPG offer for Internet service provider iiNet was a key factor in the ISP’s board recommending it over a competing offer from M2, according to iiNet chairperson Michael Smith.
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The board of Internet service provider iiNet confirmed this morning that it supported a revised acquisition offer by TPG.
The board of Internet service provider iiNet has formally offered TPG the opportunity to submit a counter-bid to M2’s acquisition offer.
The potential acquisition of iiNet would be an "opportunity to bring two great businesses together," the CEO of M2, Geoff Horth, said this morning.
M2 this morning confirmed that it is seeking to acquire iiNet. The move puts the telco in direct competition with TPG to acquire the ISP.
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