Morrison & Co’s bringing in the backup as it prepares for a takeover tussle at Uniti Group.
The investment manager, one week into due diligence at Uniti, has teamed up with Canadian giant Brookfield’s infrastructure arm.Uniti Group has approved the new combination and entered into a new exclusivity deed with the Morrison/Brookfield consortium.It looks to be a clear sign from Morrison that it’s gearing up for battle.Macquarie Asset Management and PSP lobbed a $5 a share non-binding bid on WednesdayMorrison and Brookfield know each other well.
It comes as Uniti starts talking to Macquarie and PSP about its $5 a share indicative bids and the terms on which it may also be allowed due diligence. co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.