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Network International Holdings extends deadline for potential offer
(Alliance News) - Network International Holdings PLC on Thursday said it extended its deadline for CVC Advisers Ltd and Francisco Partners Management LP to make a formal takeover offer.
Network International, a Middle East and Africa-focused payments provider, said the potential buyers now have until next week Friday to make a firm offer or say they do not intend to do so.
Network International first announced it had received a takeover proposal from CVC Advisers and Francisco Partners in April.
Under the proposal, Network International shareholders would receive 387 pence per share, representing a 58% premium to the stock's closing price the day before the announcement.
Network International shares were 0.7% lower at 363.60 pence each in London on Thursday morning.
By Tom Budszus, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Latest NETW News
- Harworth replaces Network International in FTSE 250 after buyout
17 Sep 2024 - IN BRIEF: Brookield's Network International bid clears further hurdle
23 Aug 2024 - UK earnings, trading statements calendar - next 7 days
6 Aug 2024 - UK shareholder meetings calendar - next 7 days
17 Jun 2024 - Network International profit falls as costs outpace revenue growth
28 Mar 2024 - Network International Holdings agrees to extend acquisition date
27 Mar 2024 - EARNINGS AND TRADING: Cornish Metals CEO departs; Major Nexxen buyback
15 Mar 2024 - IN BRIEF: Network International extends completion date of takeover
15 Mar 2024
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