Raymarine receives two new takeover bids

LONDON – Marine electronics manufacturer Raymarine has received two new takeover bids, according to a statement from the company.

Reuters reported that one of the bids is valued at $8.8 million, double the level of a first approach received in March. However, that bid was from a direct competitor and is conditional upon securing approval from anti-trust authorities, which Raymarine said it was not confident would be forthcoming.

That made the other two proposals more likely to deliver value for shareholders, the board reported.

To read the full article from Reuters, click here.

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