TPG surged higher at the start of August after announcing its in talks to offload assets to Macquarie Asset Management’s Vocus Group for a healthy $6.3bn. The TPG Board has granted Vocus Group a period of exclusive due diligence, currently set to expire on 6 September 2023. Under the proposed deal, TPG would be retaining its Consumer business, mobile wholesale and active mobile infrastructure while some of the monies received could be used for a special dividend after strengthening their balance sheet – best guess would be 10-25c.
- We like the risk/reward toward TPG as the market weighs up the Vocus deal.
MM likes TPG under $5.50
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