Local PE investor Potentia Capital has upped its bid from $1.80 a share to $2 each. That’s the same headline number as the bid lobbed by KKR’s Alludo.
But on Thursday evening, Potentia was gunning hard to portray its offer as the superior - no minimum acceptance threshold, no vote needed, no FIRB and a faster payout for shareholders. It also dangled the possibility of going higher, only if it could get a satisfactory look at the books.
It’s a lot of sweeteners and Nitro’s board would, no doubt, vet them carefully.
But on Thursday evening, it was clear as the sky that Nitro’s two suitors are keen on the business.
That’s the opposite of the situation at Link Administration Holdings. The board kicked out Canada’s Dye & Durham after failure to firm up its rebooted for-parts offer.
What’s the next twist and turn at Link is anyone’s guess. For now, it’s suitor-less amid frustrated shareholders.
Buyout firm Potentia Capital has hit back in the battle for ASX-listed Nitro Software, increasing its offer to $2 a share and saying it could go higher following a look at the company’s books.
QIC’s infrastructure team is understood to be in the final stages of signing a $140 million deal to buy Healius’s day hospitals that were put on the auction block via Gresham Partners.
