WELLINGTON, Feb 15 (Reuters) - Resins and coating company Nuplex Industries Ltd (NPX) has received a takeover bid from a Belgium rival backed by private equity that values the company at around NZ$1.05 billion ($694.68 million).
Under the offer, Allnex Belgium SA/NV, backed by global private equity firm Advent International Corporation, would acquire all outstanding shares in Nuplex via a scheme of arrangement for a total of NZ$5.55 cash per share.
The price includes any dividends paid between now and the settlement of the deal.
The price represents a 44 percent premium to Friday's closing price. The stock jumped 37 percent just after the open.
Nuplex said it has been in confidential talks with the bidders since October and after three revisions it now considers the offer to be "attractive" for shareholders. It has entered "advanced discussions" with the bidders and is carrying out due diligence.
Nuplex is due to report its half-year financial results on Thursday. ($1 = 1.5115 New Zealand dollars)
