Navitas

Navitas founder Rod Jones and his fellow board members have failed to reach agreement on insider protocols designed to manage conflicts of interest affecting the takeover target.

Navitas founder Rod Jones has stepped down from the board to manage his conflict of interest in relation to the $2 billion indicative takeover proposal for the education services company.

The board of Navitas has rebuffed a $2 billion takeover offer from a consortium of investors, which includes co-founder Rod Jones, saying the deal is well below its valuation of the education services company.

Navitas co-founder Rod Jones attacked the company’s earnings forecasts at today’s annual meeting, as chairman Tracey Horton was narrowly re-elected with 50.8 per cent of the vote.

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Navitas directors have recommended shareholders accept an increased $2.1 billion takeover proposal by a consortium that includes its founder and former chief executive, Rod Jones, who says the new ownership would boost the company's prospects .

Navitas has reported a 14.4 per cent decrease in profit for the half year to December, as expenses related to BGH Capital’s first takeover bid hit the company’s bottom line.

Global education provider Navitas has signed an agreement with Queens College at The City University of New York (CUNY), as part of the public university’s internationalisation strategy.

A consortium comprised of private equity firm BGH, AustralianSuper and former Navitas chief executive Rod Jones have agreed to buy the global education provider for $2.3 billion.

The federal government's Foreign Investment Review Board (FIRB) has given the tick of approval to a private consortium’s proposed acquisition of global education provider Navitas.

The proportion of women on the boards of ASX200 companies has fallen for the first time in four years, putting a dent in the Australian Institute of Company Directors’ 30 per cent gender diversity target.

Navitas has disclosed that it will incur costs of about $20 million on its acquisition by a BGH consortium, including fees to professional advisers and extra payments to its directors and executives.

Seven West Media has been booted from the S&P/ASX 200 Index, while local shipbuilder Austal will join the benchmark, following the quarterly rebalancing of the Australian share market indices.

The $2.3 billion takeover of Navitas by private equity firm BGH, AustralianSuper and the global education provider's former chief executive Rod Jones is now legally binding.

The son of Navitas founder Rod Jones has been appointed the company's chief executive while former Wesfarmers executive Colin Pavolich has been appointed chief financial officer.

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Former Navitas managing director David Buckingham has been appointed as a non-executive director for wearable technology company Nuheara.

Several former Navitas executives have banded together to form Camino Global Education, following Navitas’ $2.3 billion privatisation in June which saw ownership partially returned to founder Rod Jones.

International education is a $1.9 billion industry for WA, and there are plenty of innovative ideas about how to build the sector.

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Navitas and iiNet alum David Buckingham is set to become chair of internet services-provider Pentanet ahead of its widely tipped ASX listing.

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Wesfarmers, Mineral Resources, and Woodside were among the most notable WA-based political donors in the most recent financial year, with contributions of about $680,000 between them.

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The global education business has offered a positive outlook, underscoring its resilience after being battered by the pandemic.

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Navitas will secure an interest in several colleges offering university pathways to international students across Australia and New Zealand from UK-based Study Group.

Global education player Navitas hopes it can finally shake the impact of Covid after a big net loss.

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Prominent education stakeholder Navitas has sold its student application software business for $60 million to Nasdaq-listed Flywire Corporation.

Global education service provider Navitas has entered a 10-year partnership with ICN Business School to open an international college in France.

International education group Navitas has reported an increase in revenue but blamed restrictive policies in Canada and Australia for stifling the growth.