Vonex Agrees to Acquisition by MaxoTel

Vonex Limited (AU:VN8) has released an update.

Vonex Limited has entered into a Scheme Implementation Deed with MaxoTel for the acquisition of Vonex at 3.75 cents per share, valuing the company at $34.4 million. Vonex’s Board is unanimously in favor of the acquisition, recommending shareholders to vote for the scheme, which also includes a mutual break fee of $350,000. The deal aims to leverage Vonex’s suite of telecommunications services and MaxoTel’s VoIP expertise, signaling a strategic move to consolidate within the telecom industry.

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