Babcock and Brown, ESOT make €2.4bn offer for eircom

Australian finance house Babcock and Brown has joined forces with the eircom Employee Share Ownership Trust (ESOT) to make a long-anticipated €2.4bn offer for eircom.

Babcock and Brown incorporated a new company - BCMIH - to implement the eircom offer. BCMIH is funded by Babcock & Brown, some of its affiliates and ESOT.