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Hanover Bidco ups offer for Brady to £15mln

It represents a premium of 171% over Brady’s 6.63p share price at closing on 11 October, the day before the sale was announced

Brady PLC - Hanover Bidco ups offer for Brady to £15mln
The announcement comes hours after the news of a potential counteroffer by an unnamed bidder

Investment company Hanover Bidco has upped its offer to buy Brady PLC (LON:BRY), a provider of software solutions for global commodity and energy trading, to 18p or £15mln.

It represents a premium of 171% over Brady’s 6.63p share price at closing on 11 October, the day before the deal was announced and is an 80% hike on Hanover's original offer of 10p per share.

READ: Brady rockets as it receives possible counteroffer to Hanover takeover bid

The announcement came hours after the news of a potential counteroffer by an unnamed bidder on Monday morning.

Quick facts: Brady PLC

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AIM:BRY
Market: AIM
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