News: NEA UPDATE 1-Australia's Nearmap gets $755 mln takeover proposal from Thoma Bravo

(Adds details on proposal)

Aug 15 (Reuters) - Australian aerial imagery company Nearmap Ltd (NEA) on Monday disclosed a A$1.06 billion ($754.61 million) takeover proposal from Thoma Bravo L.P, and said the U.S. private equity firm's due diligence was at an advanced stage.

The A$2.10 per share cash proposal for Nearmap represents a premium of nearly 39% above the stock's last close price of A$1.51.

"The board of Nearmap determined the proposal received on 6 July 2022 to be credible and sufficient to initially grant non-exclusive due diligence access to Thoma Bravo," the company said.

The company added it has exclusively granted Thoma Bravo seven days from Monday to determine if a definitive transaction can be signed.

Nearmap said it had received several other non-binding expressions of interest for the company, but none of them was considered to be in the best interests of shareholders.

($1 = 1.4047 Australian dollars) (([email protected]; Twitter: https://twitter.com/damnit_saladin;))