The Clap
Madinet Nasr (MNHD) are divided on whether to reject SODIC’s (OCDI) offer or have them perform due diligence once again.
The Deets
Madinet Nasr are divided as some shareholders have completely rejected the initial offer SODIC put forward, while others want to persuade the board to allow SODIC to perform their due diligence and revise their offer.
SODIC has claimed that they have no problem in revising their initial offer of EGP 3.2-3.4 per share, given that the results of the due diligence justifies it.
What happens now?
SODIC is awaiting the general assembly’s decision on whether they may conduct their due diligence. If they are allowed, they will conduct their due diligence and declare their final stance in the deal.
Madinet Nasr divided on SODIC deal 🧐
