KKR had also previously said its bid was subject to "customary deal protections" including no adverse change in the company's performance. HEADWINDS Vocus last week said it would miss its net profit target for fiscal 2017 - which it reports on Wednesday - and booked a A$1.53 billion impairment charge, citing tough market conditions. The Sydney-based company has struggled to make the most of acquisitions bought in a three-year, $2.4 billion shopping spree, in anticipation that the NBN would shake up market share in a sector dominated by behemoth Telstra Corp Ltd. Instead, aggressive discounting has trimmed service providers' margins without driving many customers to change internet companies. On Monday, Vocus said "all discussions have now ceased" with the bidders after both advised that they were unable to meet the board's terms following due diligence. KKR declined to provide a reason for its withdrawal and a spokesman for Affinity Equity Partners (S) Pte Ltd did not respond to a request for comment.