Nuplex Industries (ASX:NPX, NZX:NPX) says it has received an indicative, non-binding proposal from Allnex Belgium offering NZ$5.55 per share.
Allnex is a leading global coating resins producer backed by Advent International and the equity firm believes a merger of the business would produce a global leader of coating resins.
Advent had confidentially approached Nuplex many months ago and Nuplex had rejected three offers until the latest price of NZ$5.55 per share which is a 44 per cent premium on the last closing price of the stock.
The deal is still subject to regulatory approvals.
Nuplex reported a net profit of $65.17 million for the 2015 financial year.
