Thursday , October 29 2020 loses WebCentral bidding war despite 80% increase

Australian registrar drops despite higher bid.

Photo of woman spurning one man for another

“But mine is bigger than his!”

It looks like’s planned acquisition of Australian domain name company WebCentral isn’t going to happen after all. offered AUS 10 cents per share ($12.2 million total) for the company in July. An Australian internet company, 5G Networks, then made an all-equity acquisition offer. increased its bid to 15 centers per share, and then 18 cents, but WebCentral determined that the 5G Networks offer is better. This is despite the offer being more than the 5G Networks offer at today’s share price.

WebCentral’s justification for accepting the lower price is that the equity in 5G Networks will allow shareholders to realize upside to the business, and it should be easier to close the 5G Networks offer compared to the deal. will receive a $500,000 breakup fee for its troubles.

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