Media reports say there’s major movement at the TPG station when it comes to solidifying its dual bids to buy iiNet and squish the Amcom/Vocus merger.

With M2 offering a $1.6 billion offer of cash and scrip for iiNet that has fluctuated with M2’s share price, going down to $1.56 billion and then $1.57 billion yesterday as the markets closed, this deal eclipsed TPG’s original all-cash offer of $1.4 billion.

iiNet’s board reckoned M2’s bid was superior and gave TPG time to make a counter offer, which reports and sources say TPG has now done, raising its bid to more than $1.57 billion.

This $1.57 billion bid may include shares as well as cash.

At the time of publication, there is no official statement on this deal at the TPG or iiNet media or investor pages, nor at the ASX, but the details expected to be officially announced this morning, 6 Wednesday 2015.

TPG is also expected to announce it has purchased 19.9% of Amcom shares, just shy of the 20% limit which would require TPG to announce a takeover bid for Amcom.

Likewise, there is no information at TPG, Amcom’s or the ASX’s relevant pages on the new movement on Amcom shares, but more detail is expected to be announced this morning.

Reports say TPG needs either 22.5% or 25% of Amcom shares to formally block the bid, but as TPG has stated it does not want to buy Amcom but simply stop the proposed Amcom and Vocus merger, TPG is ensuring that unless all other Amcom shareholders come out to vote in favour of the Amcom and Vocus merger, TPG will get what it wants - and both Vocus and Amcom won't.

TPGs moves do not assure the company success in either regard, but the moves do make TPG the primary group pulling the strings attached to some major tin cans so its voice is clearly heard on either end.

More to come.