NRW (ASX:NWH) share price jumps as it moves closer to Primero acquisition

The NRW Holdings Limited (ASX: NWH) share price is close to retesting its one-year high after declaring its bid for Primero Group Ltd (ASX: PGX) unconditional.

The NWH share price jumped 3.7% to $3.10 in late afternoon trade while the PGX share price added around the same amount to 60 cents a share.

NRW Holdings is trying to entice any Primero shareholders holding out from accepting the $100 million offer with accelerated payment terms.

NWH takeover of PGX fait accompli?

The bidder is promising to pay PGX shareholders within 10 days of valid acceptances and the share price of the target suggests that the takeover is all but a done deal.

NRW is offering 27.5 cents cash plus 0.106 of NRW shares in exchange for each PGX share. At the…