Q: NVEI still trades below the $34Us offer. Special meeting will be Jun18. Do investors fear the transaction won’t happen in 2024? Or tax inclusion related? Or normal? Merci.
5i Research Answer:
There is usually some 'time' discount, and no deal is done until the cheque clears. In this case, we do not think there is real concern on the closing conditions, but the timeframe to closing remains uncertain, and this we think is the reason for the discount. The company notes closing is expected 'late 2024 or early 2025'.