Minter Ellison has advised Oakton on its acquisition by Dimension Data Australia, which has entered into an agreement to purchase 100 per cent of Oakton’s 90 million shares for AUD1.90 (£1.07) per share via a scheme of arrangement.
The scheme has been unanimously recommended by Oakton’s board in the absence of a superior proposal and is subject to court approval, approval by Oakton’s shareholders and the satisfaction or waiver of all other conditions. The offer values Oakton at AUD171m.
Oakton is an Australian technology and business consulting services company and is listed on the Australian Stock Exchange.
Dimension Data is a wholly owned subsidiary of Dimension Data Holdings, which is itself owned by Nippon Telegraph and Telephone Corporation.
Partner John Steven is leading the M&A team advising Oakton. The core advisory team includes partners Bart Oude-Vrielink, Alberto Colla and Marcus Best.