The company has received a revised non-binding proposal from BGH Consortium. The offer is $5.825 per share, representing an increase of 32.5c per share on the prior proposal.
Directors intend to unanimously recommend the revised proposal to shareholders. The consortium will receive exclusive due diligence until no later than February 18.
Neutral rating maintained. Target rises to $5.83 from $5.50.
Sector: Consumer Services.
Target price is $5.83.Current Price is $5.53. Difference: $0.30 – (brackets indicate current price is over target). If NVT meets the UBS target it will return approximately 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).