Navitas goes it alone

The education company has spurned its takeover bidder. But it's hard to rely on management profit forecasts produced for just such a scenario.

Plaudits to Navitas for telling its private equity suitor to 'go jump'. The company certainly put up more of a fight than we expected at the time of Clever bid tactics to snare Navitas.

Since that review management has rejected the BGH consortium's indicative proposal to acquire Navitas at $5.50 a share. It came at a cost: enough shareholders were irritated by Navitas's refusal to engage with BGH that chairman Tracey Horton suffered a significant protest vote against her at the November annual meeting.

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