Uniti<\/a> shares, which have surged more than 50% since entering exclusive talks with Morrison<\/a> on March 15, were up 3.1% at a record high of A$4.97 in early trading.
Under the potential deal, Uniti shareholders will receive A$5.0 per share, representing a premium of 58.7% to the stock's closing price on March 14, a day before the telecom firm received an initial A$4.50 per share offer from Morrison.
Uniti's board unanimously recommended that its shareholders vote in favour of the proposal.
Late March, the Morrison-Brookfield consortium matched a rival offer of A$5 a piece from Macquarie Group<\/a>'s asset management arm and Canada's Public Sector Pension Investment Board for Uniti.
The proposal required the Australian telecom firm to not engage further with the Macquarie-led consortium or grant it due diligence access.
The proposal for Uniti is Morrison & Co's latest venture into the telecom space after funds managed by it acquired a 49% stake in Telstra's mobile tower business last year.
Brookfield has also been involved in a number of deals in Australia. In recent weeks, its investment vehicle bought asset manager La Trobe Financial in a $1.1 billion deal, and it had also tried to buy power producer AGL Energy.
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