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.
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