5GN ups AUCyber takeover bid

Melbourne digital services provider 5G Networks (5GN) has sharpened its bid for ASX-listed cyber security company AUCyber, and is now offering 13.5 cents a share for the company.

The unconditional offer is last and final one, and closes at 4 pm Melbourne time on February 6.

Cathie Reid, AUCyber executive chair announced to the ASX that shareholders of the company should take no action while its board considers the offer to provide further guidance.

AUCyber had earlier recommended that shareholders reject 5GN's bid.

5GN launched the unsolicited takeover bid for AUCyber in December last year, offering 11 cents a share following faltering trading performance for the cyber security provider.

On December 20 last year, AUCyber received another bid, from Brennan.

Brennan is offering 14 cents a share, but with several conditions attached.

AUCyber released six-monthly unaudited results earlier this month to the ASX, revealing financial headwinds as the takeover bids are considered.