Business
Escrow fight at OptiComm – The Australian Financial Review
Aware Super (the old First State) last week made a loosening of OptiComm’s escrow arrangements a precondition of its current bid for the company.
Under what circumstances is it acceptable for a board to junk a commitment to hold shares in escrow?
Despite the lack of easily recalled precedents, it’s a live discussion within OptiComm, Paul Cross’ newly floated junior telco, which is currently the subject of a hard-fought and drawn-out takeover battle.
The company declined to comment. But it will have to come to a decision one way or the other soon, given Aware Super (the old First State) last week made a loosening of OptiComm’s escrow arr…
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