Australian investment advisory services firm QIC Private Capital Pty Ltd. has offered a revised bid of A$493.9 million ($347 million) to buy telecommunications infrastructure company Superloop Ltd.
QIC Private Capital boosted its non-binding conditional and indicative proposal to $1.37 per share from $1.33 it offered at the beginning of April.
Superloop said that the revised offer represents a 7.7 percent premium to its last close on Thursday. Merrill Lynch Markets (Australia) Pty Ltd. is serving as the company’s financial adviser.
The offer also gives Superloop shareholders an option to receive the consideration fully in cash, or partially in cash and scrip of the newly formed unlisted entity.