Second suitor emerges for KCOM
A fight has erupted for KCOM after a second suitor tabled an offer for the telco specialist putting the brakes on a deal that had emerged back in April.
It had been looking as if the firm had accepted a £504m offer from Humber Bidco Limited a wholly-owned indirect subsidiary of Universities Superannuation Scheme Limited, with a final decision on whether or not to accept it just a few days away.
But a last minute offer from MEIF 6 Fibre has now been trumped the first offer, raising the stakes with a £563m takeover bid.
MEIF 6 Fibre is owned by Macquarie Infrastructure and Real Assets, with the KCOM board backing the latest offer and revising their initial support for the first deal.
"The Board of KCOM is pleased to recommend MEIF 6 Fibre's cash offer for KCOM which represents an increase of 11 pence to the USS Offer of 97 pence per KCOM Share and a 49 per cent premium to the undisturbed share price on 23 April 2019. This offer provides our shareholders with even greater value in cash for their shares, as well as providing KCOM with a strong partner as we work to maintain, build and enhance our offering and position," said Patrick De Smedt, interim non-executive chairman of KCOM.
Commenting on the acquisition, Leigh Harrison, head of MIRA EMEA, said that it had a background in the industry and saw potential in the business.
"We are pleased that the KCOM Board is recommending our takeover offer. KCOM has a strong local heritage that has been developed over more than a century and is well-positioned to continue to meet the evolving telecommunications needs of the region, which is why we have made this compelling offer to shareholders at an attractive premium," he said.
"As an experienced, long-term telecommunications investor, we are committed to supporting KCOM's sustainable growth. We look forward to partnering with management to increase broadband take-up in its core region and beyond, enhancing the quality of service delivery while giving local businesses and residents greater access to the opportunities that high-speed broadband can provide," he added.
KCOM issued a profit warning last year and turned to former BT executive Sutherland to help change its fortunes after sharing a half year update issued back in November showing that revenues were down and pre-tax profits had also declined by 4% year-on-year.
The firm provides voice and data services to 140,000 customers in Hull and East Yorkshire, has a public sector and large enterprise customer lost across and through its national network services provides UK wide connectivity support.
source computerweekly
Industry: Unified Communications
Latest Jobs
-
- DevSecOpp- Security design / review consultant. SC Clearance. London
- London
- £70000
-
CH7838 London £70,000 DevSecOpp- Security design / review consultant. DevSecOpp- Security design / review consultant will ensure that newly created, public facing apps are secure by design and by default by aligning them to current / best practice security policies and standards into the design phases. The individual must have a technical software / application development background with specalist experinece in secure architecture design. (Frameworks, processes, best practice etc) Practical experience translating and ensuring that the OWASP top 10, ISO27001, HMG frameworks requirements are reviewed and embedded into project designs which are implemented is essential. Experience working projects through a full development lifecycle is key. You will work along side the design and project teams to idenitfy and mitigate risks throughout the design phases. This is a permanent role. SC clearance is essential as is the ability to get to the London office. (When appropiate #covid) Security DevSecOps consultant. To arrange a discreet call book via https://calendly.com/chris-holt/devsecopp--security-design-review-consultant
-
- SPLUNK SOC Analyst level 3, London.
- London
- N/A
-
SPLUNK SOC Analyst level 3, Must be able to commute to the City of London. Onsite role. Security clearance needed. The SPLUNK SOC Analyst level 3 must have current experience working within a SOC environment with specific experience using a range of tools and techniques to investigate security incidents. Current experience with Splunk is essential. any additional experience Individuals with Elastic Security SIEM are highly desirable. Any of the following certifications are desirable Splunk Phantom certified admin, Splunk Core Certified Power User / Advanced, Splunk Certified Enterprise Security Admin, etc The role will include, but not be limited to working with sophisticated information security tools, investigating security incidents, incident management, technical escalation, process improvement, research into the latest threats, reporting etc The individual MUST currently be living in the UK and be able to achieve UK security clearance. (SC) This is a permanent role To arrange a call with Chris Holt https://calendly.com/chris-holt/arranged-call-with-chris-holt-elastic-siem-engineer-soc Chris.Holt@dclsearch.com
-
- ISO 27001 & Business Continuity Security Specialist, End User
- United Kingdom
- 70000
-
CH7828 ISO 27001 & Business Continuity Security Specialist, End User, £70,000 United Kingdom ISO 27001 & Business Continuity Security Specialist needed to join a Cyber team within an end user. The ISO 27001 & Business Continuity Security Specialist will have end to end responsibility for the information security and Business Continuity management system. ISMS/BCMS. Both from an information security and technical security perspective working alongside the CISO. Experience must include, but not be limited to; a mix of Information Security standards, frameworks, audit principles, controls / policies and the management and use of the technical tooling to achieve compliance. ISO 22301, ISO 27001, NIST Cybersecurity Framework etc An ideal candidate will be working within an end user environment with a cyber consultancy background. Experience taking a company through accreditation is highly desirable Experience managing internal stakeholders, technical teams and external third parties essential Flexible working, very occasional travel to London office This is an exclusive role to DCL Search & Selection. Looking to interview immediately. https://calendly.com/chris-holt/iso-27001-business-continuity-security-specialis
-
- PCI- DSS Security Consultant, End User
- London
- £70,000
-
PCI- DSS Security Consultant needed to join a Cyber team within an end user. The PCI- DSS Security Consultant will have end to end responsibility for PCI - DSS and its continuing certification. Both from an information security and technical security perspective working alongside the CISO. Experience must include, but not be limited to; a mix of Information Security standards, frameworks, audit principles, controls / policies and the management and use of the technical tooling to achieve compliance. PCI objectives / 12 key requirements, OWASP top 10, ISO 27001, NIST Cybersecurity Framework etc An ideal candidate will be working within an end user environment with a cyber consultancy background. PCI Cloud compliance, specifically someone with experience taking PCI-DSS from on premise into the cloud is HIGHLY desired. However, someone with Solid PCI experience with a strong technical background which include Cyber / Secure by design etc would be considered. Experience managing internal stakeholders and external third parties essential. Flexible working, but with the ability to get into London. This is an exclusive role to DCL Search & Selection. 1st stage interviews to happen the week of the 14th September Arrange a call with Chris on https://calendly.com/chris-holt/arrange-a-call-chris-dcl-pci-compliance