Vocus shares jump 20% on a takeover bid

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Vocus shares jumped after a $2.2 billion takeover bid by private equity group KKR.

A short time ago, they were up 20% to $3.43. The offer is $3.50 cash per share.

The telco’s board of directors has formed a committee to assess the offer, appointed Credit Suisse and Goldman Sachs as its financial advisors and Allens as legal adviser.