Business
Why the Primero (ASX:PGX) share price has slipped 2% today
The Primero Group Ltd (ASX: PGX) share price has slipped today on news the company directors have accepted a takeover bid.
The company announced this morning that its directors, who own 30.42% of the company’s shares, have accepted NRW Holdings Limited (ASX: NWH)’s conditional off-market takeover bid.
The Primero share price has fallen almost 2% to 55 cents on the news , while the NRW share price dipped by 0.35% to $2.86 at the time of writing.
What else did today’s announcement say
Primaero advised that, as a result of today’s acceptances, NRW now has built up a stake of just over 48% of Primero shares.
The Primero directors continue to unanimously recommend that its shareholders accept NRW’s offer, which will expire on…
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