The Non-Solicitation agreement paragraph is interesting. Sounds like Bidco are concerned about the possibility arising of other 3rd party offers, as well they might with such a low-ball offer. Whilst the agreement prevents UNV from actively soliciting other offers, you would have to imagine other parties are nonetheless running the ruler over UNV. I wonder if such a bid arises whether UNV is still allowed to open its data room to other parties. Anyway, whatever, its the underlying message that's relevant here in that the current bid is recognized as being vulnerable to other bids ( yeh, not unexpected with the low-ball conditional bid on the table at the moment)
UNV Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
