Amcom moves to shore-up merger
Amcom has released a short video in a direct pitch to undecided shareholders to vote in favour of its proposed takeover by Vocus Communications.
In the two-minute video, Amcom chairman Tony Grist implores shareholders to back the scheme of arrangement at the coming shareholders meeting next month.
Mr Grist said the merger would broaden the company's capabilities, enhance its growth profile and provide strong synergies shared by both shareholder groups.
"The significant increase in both companies share prices since the scheme was announced, I believe, represents the market's endorsement of the combination," he said.
He also warned that Amcom shares would likely fall if shareholders opposed the deal and no superior offer emerged for the company.
Amcom's directors have unanimously backed the deal and an independent expert had concludes the deal was in the best interests of shareholders.
The all-scrip tie-up will create a national telco valued at more than $700 million.
The shareholder vote will be held at the Duxton Hotel on Wednesday, May 6, at 11am.
Amcom shares were up three cents, or 1.14 per cent, to $2.66 at noon in a broadly firmer market while Vocus shares were up 12 cents, or 2.07 per cent, to $5.91.
