Progress have been made on two large mergers and acquisitions announced this year.
In August this year, Superloop put $243 million on the table for buy the unified communications as a service (UCaaS) vendor.
The telco last week said its acquisition is no longer conditional on due diligence, and has issued an improved, best and final offer (BAFO) for Symbio.
It now says the default consideration of the BAFO (a 50:50 split of cash and scrip) proposes a cash consideration of A$1.425, plus 2.14 Superloop shares per Symbio share.
Superloop says the proposed purchase amount of $2.91 per share represents a 22.4 per cent premium over Symbio's last close price, or 28.7 per cent with $0.15 franking credits included.
At that price, the offer values Symbio at $250.29 million.
A number of conditions apply for the BAFO before the deal can move ahead, including the Symbion board unanimously recommending to the UCaaS vendor's shareholders to vote in favour of the proposal.
Meanwhile, the Federal Court last Friday approved the scheme of arrangement between Tesserent and its shareholders.
In June, French IT and defence giant Thales said it would offer $0.13 per share in cash for a 100 per cent ownership of Tesserent, valuing the security vendor at $176 million.
This morning, it is expected an office copy of the Federal Court's orders will be lodged with the Australian Securities and Investments Commission, at which time the deal becomes legally effective and Tesserent shares will be suspended from trading.
The implementation date has been set to Wednesday, October 4 this year.
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