CPPIB buys Macquarie Communications Group

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CANADA - The CAN$108.9bn (US$86.8bn) Canada Pension Plan Investment Board (CPPIB) has made a formal offer to acquire the Macquarie Communications Infrastructure Group (MCG) in a deal worth C$1.16bn (US$0.92bn).

The offer, which has been unanimously accepted by MCG directors and is awaiting shareholder ratification, values MCG shares at AUS$2.50 (US$1.73) each. This represents a 67% premium over the las...

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