Waterland to Outbid Epiris for Gamma Communications in UK Telecom Deal
Overview of the Waterland and Epiris Bidding War
Sept 6 (Reuters) - Dutch private equity firm Waterland plans to make an offer for British telecommunications company Gamma Communications that exceeds the £1.08 billion ($1.38 billion) bid from Epiris, a British private equity firm, the Sunday Times reported.
Key Details of the Proposed Deal
Here are more details:
Accepted Offer from Epiris
• Gamma last week agreed to a 1,120 pence per share offer from Epiris.
Waterland’s Strategy and Divestment Plan
• After a takeover is completed, Waterland would sell two Gamma divisions to UK telecom service company Giacom, the Sunday Times reported. The divisions cater to small- and medium-size enterprises and accounted for nearly 30% of Gamma's revenue last year.
Gamma’s Perspective on Competing Offers
• Gamma has perceived the Epiris offer as more straightforward and having lower execution risk than the Waterland deal, the report said.
Timeline of Waterland’s Interest
• Waterland was in August in early talks over a potential takeover of Gamma.
Responses from Involved Parties
• Waterland, Gamma and Epiris did not immediately respond to a request for comment outside regular business hours.
Exchange Rate Information
($1 = 0.7403 pounds)
Reporting Credits
(Reporting by Sathvi G Bhat in Bengaluru; Editing by Cynthia Osterman)
