- KCOM group withdrew its support for a takeover from Universities Superannuation Scheme in favour of a 'superior offer' by a fund managed by Macquarie Infrastructure and Real Assets.

The Macquarie Infrastructure and Real Assets offer price of 108p a share in cash represented an aggregate value of £563m for KCOM.

KCOM considered and considers the Macquarie offer to represent a superior offer for KCOM's shareholders as compared to the Universities Superannuation Scheme offer.

KCOM proposed to adjourn the court meeting and the general meeting concerning the Universities Superannuation Scheme, which was expected to be held on 5 June, the company said.

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