The non-binding, incomplete and indicative offer of AU$5 per Uniti share, which Uniti’s chairman received by email on Wednesday, was higher than an offer of AU$4.50 per share made last week by Morrison & Co.
Trading in Uniti shares was halted on Wednesday after media reports of the offer. The stock has risen almost 50% since March 14, when it entered exclusive negotiations with Morrison & Co.
Uniti said its board was considering the terms of the new proposal.
($1 = 1.3339 Australian dollars)