(Reuters) -British medical device maker Niox Group said on Thursday it had received a sweetened buyout proposal from Parisian private equity firm Keensight Capital, valuing the company at 322.4 million pounds ($417.48 million). Shares of Niox rose as much as 25%. The new proposal of 81 pence per share, from 78 pence previously, represents a […]
Health
UK’s Niox Group receives sweetened buyout proposal from Keensight Capital
Audio By Carbonatix
(Reuters) -British medical device maker Niox Group said on Thursday it had received a sweetened buyout proposal from Parisian private equity firm Keensight Capital, valuing the company at 322.4 million pounds ($417.48 million).
Shares of Niox rose as much as 25%.
The new proposal of 81 pence per share, from 78 pence previously, represents a 23.4% premium over the stock’s closing price on March 5 – the day prior to when Niox received the revised terms.
Niox said it had engaged with several potential parties interested in making an offer, and is inclined to recommend Keensight’s improved proposal to shareholders, pending a firm offer.
($1 = 0.7723 pounds)
(Reporting by Raechel Thankam Job and Yamini Kalia in Bengaluru; Editing by Krishna Chandra Eluri)