iiNet Shareholders Vote Yes to TPG Takeover

whodidthat on 27/07/2015 - 13:55

Majority support for under-scrutiny deal.

iiNet shareholders today voted overwhelmingly in favour of rival TPG's bid to take over the internet service provider, as the pair wait to see how Australia's competition regulator responds to the deal.

Around 95 percent of iiNet shareholders today voted in support of TPG's $1.56 billion buyout. The company had offered $9.55 per iiNet share, comprising $8.80 cash and a $0.75 special dividend.

Read more: http://www.itnews.com.au/News/407060,iinet-shareholders-vote…

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Comments

  • BewareOfThe Dog on 27/07/2015 - 14:15

    Thank you. I hope the service doesn't degrade.

  • Islund on 27/07/2015 - 14:34
    +3

    the beginning of the end.

  • Axelstrife on 27/07/2015 - 14:52

    Awesome tpg service for me has been awesome.

    • Unbreakable on 27/07/2015 - 15:49

      Same here!

      • DJR9000 on 27/07/2015 - 17:52
        +2

        I can't tell if you are being sarcastic or not.

  • DeafMutePretender on 27/07/2015 - 20:12
    +1

    iiNet Shareholders Vote Yes to less competition in the broadband industry

  • [Deactivated] on 28/07/2015 - 11:30

    Of course they voted yes, it's all about money, it was never about how good the service is. (Not saying TPG has bad service, just saying that the stakeholders simply don't care, all they care is the amount of money they'd get, now and in the future)

    • DeafMutePretender on 28/07/2015 - 21:47

      When a CEO says something along the lines of "I have a responsibility to the shareholders of this company" it's basically code word for "How can we rip off our customers/employees even more?"

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