In today’s briefing:
- Nitro Software (NTO AU): Potentia Raises to A$2.00 as the Battle Heats Up
Nitro Software (NTO AU): Potentia Raises to A$2.00 as the Battle Heats Up
- Nitro Software Ltd (NTO AU) has received a revised Potentia off-market takeover offer at A$2.00 per share, an 11.1% premium to its previous offer and in line with Alludo’s offer.
- By bumping its offer, adding a scrip alternative and signalling a potentially higher price on due diligence access, Potentia has ramped up the pressure on the Board.
- Potentia/Alludo offer remains at the low end of the IE’s valuation range. Alludo would have anticipated this move and likely will have factored in the need to raise its offer.
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