The Clap
Following news that SODIC may potentially come back with an improved offer, SODIC (OCDI) have decided that they will not be revising their offer to Madinet Nasr (MNHD).
The Deets
SODIC have confirmed that they will not be revising the initial offer made which values MNHD between EGP 3.2-3.4 per share.
Madinet Nasr have escalated the standoff to their general assembly and the decision on whether to accept SODIC’s offer remains unclear.
So what now?
Whether MNHD will budge is anyone’s guess. At the current moment, the deal does not look to be very promising, unless MNHD comes down with their valuation.
SODIC holds their ground in the MNHD deal! 🔒
