Morrison & Co ups Uniti bid to A$5 a share

Morrison & Co ups Uniti bid to A$5 a share
Fibre optic cable firm Uniti has managed to attract increasing takeover bids. (Image: Deposit Photos)
Henry Burrell
Morrison & Co has joined with Brookfield Infrastructure Group to place a bid for Australian fibre telco Uniti Group at A$5 (NZ$5.43) a share, ending a rival bid at the same price from Macquarie Asset Management and PSP Investments.New Zealand’s Morrison & Co had first bid at A$4.50 a share earlier in March, a price at a 43% premium to where stock was trading before whispers sent it creeping up on March 15.Uniti announced to the market on Tuesday the higher bid from the newly formed consortium of Morrison and Brookfield, which had...