At time of writing, the Navitas Limited [ASX:NVT] share price has rocketed up 21.6% due to a potential takeover. The proposed takeover is led by a consortium that includes Australian private equity firm called BGH Capital.
By 11am yesterday morning Navitas Ltd [ASX:NVT] stocks had fallen 7.8% from Monday’s close of $5.24. It finished the day at a 9.3% loss. What has caused to share price to drop?