Macquarie has announced its intention to make an off-market bid through its wholly-owned subsidiary Macquarie Cloud Services to acquire all of the ordinary shares in the Bulletproof Group.
The offer price of A$0.11 per share values Bulletproof’s share capital at approximately A$17.9 million, and represents a 64.2% premium to the closing price of Bulletproof shares on 17 November 2017 of A$0.067 and a 57.1% premium to the 1-month VWAP of Bulletproof shares of A$0.07.
Macquarie currently has a relevant interest in 26,188,349 Bulletproof Shares representing 16.11% of the issued capital, via a Call Option Deed with an entity associated with Anthony Woodward, chief executive and co-founder of Bulletproof.
“Bulletproof is a long-standing business with a talented and experienced team. There is a strong strategic fit with Macquarie. The combination will enable Macquarie and Bulletproof customers to access a full set of cloud options of colocation, private cloud and public cloud. We believe it is in the interests of Bulletproof shareholders to accept the Macquarie offer."