Ashtead Technology, a British subsea technology firm, said Ember Infrastructure Management submitted a non-binding proposal valuing it at about £498 million, or $659.75 million. Ember offered 615 pence per share in cash, a 12.8% premium to Ashtead’s prior close of 545 pence. The proposal follows four approaches from Ember, including two rejected by the board. Ashtead said it was reviewing the latest offer with advisers, while UK takeover rules gave Ember until October 21 to announce a firm offer or abandon the effort.
Source: https://www.globalbankingandfinance.com/ashtead-technology-receives-660-million-takeover-proposal/