(Reuters) – Macquarie-backed MEIF 6 Fibre Ltd trumped an offer from a unit of British pension fund Universities Superannuation Scheme Ltd for KCOM Plc on the final day of the five-day auction for the firm.
MEIF offered 120.3 pence per KCOM share, valuing the company at 627 million pounds ($787.51 million), whereas Universities Superannuation bid 113 pence per KCOM share.
Britain’s takeover panel had decided to hold an auction for KCOM after USSL unit Humber and Macquarie-backed MEIF 6 Fibre Ltd failed to make a final offer for KCOM.
($1 = 0.7962 pounds)
Reporting by Sangameswaran S in Bengaluru; Editing by Jan Harvey