The Clap
Beltone (BTFH) has received a non-binding offer from “WM Consultancy” along with other investors to acquire a majority stake.
The deets
The offer came at EGP 1.35/share, but the statement indicated the possibility of changing the price according to due diligence results.
The decision whether to submit a final offer or not will be determined based on the results of due diligence.
Beltone has 60 days to evaluate this offer.
Why this matters
The offer comes at a 31% premium to BTFH’s closing price on Thursday, June 2, 2022. If the deal is successful and completed at this price, it will be a total of EGP 542 million.
The stock rose 12% on the news.
