New $3bn AGL offer for Vocus

AGL Energy has announced a new $3.02 billion offer for telco Vocus less than a week after Swedish private equity firm EQT Infrastructure scrapped its own takeover bid for the Sydney-based company.

The energy provider detailed a non-binding plan to acquire Vocus at $4.85 a share in a statement to the ASX.

Shares in AGL slipped by more than six per cent at the open of markets and were trading 5.07 per cent lower at $19.85 by mid-morning.

Shares in Vocus were 13.71 per cent higher at $4.35 at the same time, still shy of the $4.72 heights hit following EQT’s doomed bid.