<article>Vocus Group Ltd said on Tuesday that Swedish private equity firm EQT Infrastructure had withdrawn its A$3.3-billion ($2.30 billion) buyout offer for the telecoms company.</article>

Vocus Group Ltd said on Tuesday that Swedish private equity firm EQT Infrastructure had withdrawn its A$3.3-billion ($2.30 billion) buyout offer for the telecoms company.
&#8220;Following an accelerated period of due diligence, EQT has decided not to proceed with the transaction outlined in the indicative proposal,&#8221; Vocus said in a statement.
Vocus also reiterated its fiscal 2019 underlying core earnings guidance, expected in the range of A$350-A$370 million.
The withdrawal comes just a few days after Australian energy retailer AGL Energy revealed that it had made and then quit a takeover offer for Vocus as it could not agree on due diligence terms with the telecoms firm.
EQT&#8217;s offer, which was at a 35% premium to Vocus&#8217; then last close, had come just as Vocus&#8217; turnaround plan was beginning to gain traction. The company had allowed EQT to conduct non-exclusive due diligence terms.
A spokeswoman for EQT declined to comment on the development.
Reuters

Vocus Group Ltd said that Swedish private equity firm EQT Infrastructure had withdrawn its A$3.3-billion ($2.30 billion) buyout offer for the telecoms company.

Australia's Vocus says EQT drops $2.3b buyout bid

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Australia's Vocus says EQT drops $2.3b buyout bid

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