Thndr Claps » EGY Claps » Mergers & Acquisitions 🤝 » Sources: Madinet Nasr says NO to SODIC 🚨
The ClapAccording to sources, Madinet Nasr’s (MNHD) general assembly decided to not allow SODIC, a subsidiary of Al Dar, to perform their due diligence in preparation for a potential acquisition.BackgroundIn June 2022, SODIC offered to acquire 100% of MNHD for a price per share between EGP 3.2 – EGP 3.4The DeetsMadinet Nasr rejected SODIC’s offering price for the company, saying that the price does not reflect the true value of MNHD or its assets. They left the decision to the general assembly, who rejected SODIC’s offer.
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