“The announcement is positive on a number of fronts,” RBC Capital Markets analyst Garry Sherriff said in a research note.“The seven-day exclusivity beginning today to Thoma Bravo provides the bidder the opportunity for due diligence and pressure to provide a potential binding offer; it alerts other potential bidders that Nearmap is in play; and if no binding offer is proposed within the seven-day exclusivity, then the board, in our view, is likely to run a full sales process to flush out other potential offers and maximise a sale price.”
NEA Price at posting:
$1.89 Sentiment: Buy Disclosure: Held
