Will TPG become the wedding crasher? Vocus Communications (VOC) and Amcom Telecommunications (AMM) are playing the odds that TPG Telecom (TPM) won't gatecrash...

Will TPG become the wedding crasher? Vocus Communications (VOC) and Amcom Telecommunications (AMM) are playing the odds that TPG Telecom (TPM) won't gatecrash their merger party. Vocus is making an all scrip offer for Amcom to create the nation's third largest business telco. The bid is supported by Amcom's board with the bidder offering 0.4614 Vocus shares for every Amcom share it doesn't own. This works out to a bid price of $2.64 a share at Vocus' current share price. Amcom's shareholders may not be as excited with an all scrip bid. Investors prefer cash and research has shown that all scrip bids tend to create inferior value for the target's shareholders, but they shouldn't hope for an improved offer from TPG. Click for more (VIEW LINK)