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Investment firm Macquarie has won the KCOM auction with a significant £627m bid, trumping USS’ bid of £589m.
The acquisition, at the increased price of 120.3 pence per KCOM share in cash represents a premium of 66 per cent to the closing price of 72.5 pence for each KCOM share on 23 April 2019 (being the last business day prior to commencement of the offer period).
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