The takeover battle for ASX-listed PDF tools provider Nitro Software is heating up.
The takeover battle for ASX-listed PDF tools provider Nitro Software is heating up, with both its rival bidders now at the Takeovers Panel alleging shortcomings in the opposite camp’s bid.Nitro Software’s Canadian suitor Alludo on Monday applied to the Takeovers Panel seeking orders that rival bidder Potentia Capital clarify its funding and co-investment disclosures.a-share two-track offer.
In the opposing camp, Potentia, which has offered $2 a share but indicated it may go up, asked the Takeovers Panel last week to get it due diligence and stop Alludo from pursuing a scheme and a bid at the same time. Potentia also owns 19.9 per cent of Nitro. Alludo’s takeover offer is open until March 3, and it needs to corner a self-set threshold of 50.1 per cent of Nitro shares at its $2.15 offer. Its scheme meeting is scheduled for February 3 and has a 75 per cent threshold to pass.
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