Dec 12 (Reuters) – Australia’s Nitro Software Ltd (NTO.AX) received a lucrative offer of up to A$526.9 million ($357.61 million) from KKR Inc’s (KKR.N) Alludo on Monday announced. Potentia Capital last week.
The A$2.15 per share scheme will run alongside a concurrent off-market takeover offer for PDF and the electronic signature software signing company, contingent on the Alludo scheme not proceeding and a minimum acceptance requirement of 50.1%, Nitro said. said.
Alludo’s offer beat private equity firm and largest shareholder Potentia Capital’s A$2 a share offer on Friday.
Nitro’s shares closed at A$2.13 on Friday, with Alludo’s latest offer at a 0.9% premium.
Nitro said the revised bid from Alludo was contingent on the company confirming it would not provide due diligence access to Potentia Capital.
The company recommended that shareholders vote in favor of the better Aldo scheme.
($1 = 1.4734 Australian Dollar)
Reported by Savyata Mishra, Bangalore.Editing by Grant McCool
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