Allnex wanted certainty of scheme of arrangement for proposed Nuplex offer, Springford says

Jonathan Underhill
Mon, 15 Feb 2016

By Jonathan Underhill Feb. 15 (BusinessDesk) - Allnex Belgium SA was willing to offer such a large premium to take over Nuplex Industries in part because of the certainty provided by a scheme of arrangement as opposed to a conventional takeover, says chairman Peter Springford. Allnex, which is controlled by Boston, Massachusetts-based private equity firm Advent International, would offer $5.55 a share for Nuplex, valuing the target at $1.05 billion. The indicative, non-binding and conditional proposal is for a scheme of arrangement, which...

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