Macquarie Infrastructure and Real Assets (MIRA) and its managed funds first moved to acquire all of the shares of Vocus in early February, offering $5.50 per share in its proposal, for a total of $3.4 billion.
On Tuesday, Vocus alerted shareholders it had been advised MIRA had teamed up with $130 billion industry super fund Aware Super to form a consortium for the bid.
The non-binding offer has otherwise kept the same terms.
The consortium is still conducting its due diligence investigations, with the Vocus board noting there is “no certainty” the proposal will result in a binding offer.
Aware Super recently acquired a 25 per cent interest in Lendlease’s retirement village business, Retirement Living.
The fund has also indicated there are set to be more potential mergers for it in the next two to three years, after it consolidated with VicSuper and WA Super in 2020.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].