Shareholders approve M2 and Vocus merger

Shareholders approve M2 and Vocus merger

Still subject to a court hearing

Credit: Dreamstime

Shareholders have given their approval of the proposed merger between M2 and Vocus Communications.

The scheme is still subject to a second court hearing that will take place on February 5.

If it all goes ahead, M2 shareholders will get 1.625 shares in Vocus for each M2 share held in the Scheme Record Date.

The two merged companies have been valued at more than $3 billion, creating the fourth biggest vertically aligned telco in the Australian market and third in New Zealand.

Vocus CEO and founder, James Spenceley, will continue on the combined Board as Executive Director with a focus on telco infrastructure strategy. M2 CEO, Geoff Horth, will be appointed as the CEO of the merged group.

M2 executive director and founder, Vaughan Bowen, will also continue on the combined Board as executive director, retaining his focus on strategic acquisition opportunities.

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Tags Mergers and acquisitionsVocus CommunicationsM2 group

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