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Nitro board talks down Potentia offer, sticks with Alludo

Kanika SoodCo-editor, Street Talk
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Nitro Software’s board is sticking with its recommendation for the $2.15 per share bid from KKR-owned Canadian software company Alludo, after rival bidder Potentia Capital spelled out details of its $2 a share offer.

Local private equity firm Potentia’s 246-pages-long third supplementary bidder’s statement on December 23 extended its takeover offer period to March 31. More importantly, the statement fleshed out details of how Potentia bid’s scrip option – a key selling point in its attempts to get due diligence – would work.

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Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au

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    Original URL: https://www.afr.com/technology/nitro-software-backs-alludo-bid-after-potentia-details-offer-20221228-p5c92l