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…