Epiris agrees £1.08bn Gamma Communications takeover
UK private equity firm Epiris has agreed to acquire telecommunications company Gamma Communications in a transaction valuing the business at approximately £1.08bn, according to a report by Reuters.
UK private equity firm Epiris has reached an agreement to acquire telecommunications company Gamma Communications for around £1.08 billion, according to Reuters. The recommended offer, which concludes months of takeover talks, involves Gamma shareholders receiving 1,120 pence in cash for each share, valuing the company at approximately £1.02 billion.
This deal represents a 53% premium to Gamma's closing share price on April 7th, the date when the firm initially announced it was exploring potential sale options. Throughout the acquisition process, Gamma attracted interest from multiple private equity firms, including Oakley Capital, Providence Equity Partners, and Waterland Private Equity Investments, all of whom withdrew their offers in June or held preliminary discussions, respectively.
Gamma is a communications services and technology provider, operating in sectors such as cloud communications and connectivity. The transaction is contingent upon all standard conditions and approvals necessary for its completion.
Written by urgent.news from Private Equity Wire's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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