Mac Comms gets take-over go ahead

Rose Major

Macquarie Communications Group will be taken over by the Canada Pension Plan Investment Board, after both UK and Australian regulators gave the green light for the deal.

Australia’s Foreign Investment Review Board and the UK’s Office of Fair Trading have both waved the deal through, åstatements from MCG and Canada Pension said on Friday.

Canada Pension’s offer of A$2.50 for every MCG stapled security values the group, which owns Australian and UK transmission companies Broadcast Australia and Arqiva and UK emergency services communications provider Airwave, at A$1.4 billion.

Security holders will meet on June 17 to vote on the offer.