The final round of takeover talks at Nearmap appear to be going well, with the company and its private equity suitor Thoma Bravo closing in on a binding deal at $2.10 a share.
two parties and their lawyers at Gilbert + Tobin and DLA Piper were said to be nearing an agreement over the weekend.With Thoma Bravo failing to uncover any stumbling blocks, attention will turn to Nearmap’s ability to sell its $1.06 billion takeover to investors ahead of a likely scheme vote.
Analysts expect most investors to follow the board’s recommendation at $2.10 a share, although there are pockets of institutional investors who would still like to see a bit more of RBC Capital Markets-advised Thoma Bravo’s cash. UBS’ desk told clients investor reaction was “mixed at best”.That sentiment is reflected in sell-analyst reports with Canaccord Genuity and Evans and Partners, in particular, banging the drum asking for a higher bid.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hot Copper owner to drive away with Gumtree, CarsguideThe Market Herald is going from business news and investor relations to selling second hand cars.
Read more »
The Guardian view on war in Ukraine: fighting on multiple fronts | EditorialEditorial: Explosions in Crimea are not only about immediate military strategy, but maintaining support for Kyiv
Read more »
Tears flow in emotional night for BombersBen Rutten is adamant he is the right man to coach Essendon and believes he can move forward from “disappointing” treatment from the club if handed an unlikely reprieve. 7NEWS
Read more »
Macquarie gathers Queensland croplands in $120m dealThe transaction highlights the interest from institutional investors in securing sizeable exposures to the Australian agricultural sector as world food markets are roiled by food inflation.
Read more »
Corporate Travel pays $15m bonus despite missed targetThe company said it rewarded executives because of an earnings rebound in difficult conditions. Investors, meanwhile, have questioned the bonus structure.
Read more »