BGH Consortium's Acquisition of Navitas Moving Closer
We have increased our Navitas fair value estimate to the revised BGH consortium offer price of AUD 5.83 per share as we think there’s a high probability that the offer will proceed following the Navitas board’s decision to allow due diligence and recommend the offer. We were surprised the Navitas board rejected the original AUD 5.50 per share offer last November and expect shareholder pressure has forced a resolution of the impasse. Shareholders were clearly unhappy at the board’s rejection of t...Navitas provides educational services to domestic and overseas students. Co.'s segments are: University Partnerships, which delivers education programs, via pathway colleges and managed campuses, to students requiring a university education; SAE Institute, which delivers education programs in creative media including courses in audio, film and multimedia; and Professional and English Programs, which delivers English language tuition, jobs skills training and higher and vocational education in health, security and psychology, and is comprised of four business units: English and Foundation Skills, Careers and Learning Skills, Navitas Professional Institute, and Training and Development.
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