Mayfield Childcare (ASX:MFD) received a revised conditional, non-binding and indicative proposal from Genius Education on Tuesday 17th January 2023.
The proposal was for $1.35 per share and represented a ~5% premium to the previous proposal of $1.28 per share.
The Board of Directors of Mayfield Childcare determined that it was not appropriate to grant additional exclusivity arrangements as proposed, and Genius later withdrew their offer.
Mayfield is continuing to work with interested parties on a potential transaction, and will keep the market informed of any material developments.