The Clap
The FRA received a request from Expedition to readjust their offering price to acquire 34% of Domty (DOMT) to EGP 5.5 per share instead of EGP 5 per share.
The Deets
Sources say that Expedition’s adjustment to its bid price was due to their desire to support Domty’s investors.
Why this Matters
BDO, Domty’s independent financial advisor, said the fair price of the company’s stock is EGP 6.90, 38% more than Expedition’s initial offer price.
What Now
Domty shareholders who responded to the initial offer before the price revision, the purchase of their shares at the new price will be carried out, in addition to the shareholders who have not yet responded to the offer.
Expedition up their offer to Domty 👆
