The president of the Australia's Takeovers Panel has told publicly-listed data infrastructure and network services provider 5G Networks that it has must not process any acceptances it gets from Friday onwards in connection with its bidder's statement for the Webcentral Group.
Publicly-listed data infrastructure and network services provider 5G Networks will become the new owner of the Webcentral Group, after outbidding the Florida-based Web.com which had made an offer of $12.2 million, and having its counter offer cleared to proceed.
The Webcentral Group, the firm once known as Melbourne IT and later as the Arq Group, has entered into a deal for its Web hosting assets to be acquired by the Florida-based Web.com for a sum of $12.2 million.
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