<article>Australian tuition provider Navitas Ltd said on Monday it had rejected a $1.4 billion takeover offer from its co-founder and private equity firm BGH because it undervalued the company.</article>

Australian tuition provider Navitas Ltd said on Monday it had rejected a $1.4 billion takeover offer from its co-founder and private equity firm BGH because it undervalued the company.
Navitas said in a statement that it was still willing to negotiate with BGH, but that would involve a detailed management presentation.
Navitas said on Oct. 10 that it had received the takeover bid from BGH and Rod Jones &#8211; Navitas&#8217; co-founder and top shareholder.
BGH was not immediately available for comment on Monday.
In a filing to the Australian Securities Exchange, Navitas said it wasn&#8217;t currently granting due diligence to the consortium, but could do so if it negotiated a favourable deal.
It also said any such due diligence would not hinder the chances of a competing offer.
Reuters

Australian tuition provider Navitas Ltd rejected a $1.4 billion takeover offer from its co-founder and private equity firm BGH because it undervalued the company.

Australia's Navitas spurns $1.4b takeover bid from BGH-backed group

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Australia's Navitas spurns $1.4b takeover bid from BGH-backed group

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