Why has Navitas (ASX: NVT) rallied today

Stock

Navitas (ASX: NVT) $5.50 as at 15/01/2019

Event

The education provider has jumped over 12% today, bouncing back from its sluggish start to the year thanks to a revised takeover bid.

The initial bid, which we discussed here, has been increased by 5.9% from $5.50 to $5.825 as the consortium led by private capital firm BGH look to close out the deal.

Navitas (ASX: NVT), which provides pre-university and pathway courses globally, announced that the board intends to unanimously accept the new offer but also ensured the door will be left open for other suitors to propose superior offers.

The company has been a long time takeover target for those looking for exposure in the booming international education market, however the stock price struggled for much of 2018 as the company slipped into a loss.

Navitas (ASX: NVT) Chart

Market Matters Take/Outlook

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