The board of Network International (NWITY) overnight confirm that it has received a "highly preliminary, non-binding proposal" regarding a possible cash offer of 400 pence from Brookfield Asset Management (BAM). The Brookfield proposal is subject to the satisfaction or waiver by Brookfield of a number of pre-conditions, including the completion of satisfactory due diligence, Network said in a statement. The Brookfield proposal follows the announcement on April 17 regarding a possible offer from CVC Advisers and Francisco Partners Management of 387 pence in cash. The board of Network is "currently evaluating the Brookfield Proposal with its financial advisers and a further statement will be made in due course."
Published first on TheFly
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