Healthscope grants consortium due diligence
Healthscope Limited (HSP) said it would grant the members of the consortium that offered to takeover the hospital operator for $5.75 per share, or $1.82 billion, the opportunity to conduct due diligence. Last week the consortium increased its offer from $5.50 per share.
Rumours quickly surfaced the private equity firm that made the offer was a JV between TPG and Carlyle Group.
Today Healthscope said it has undertaken careful review of both the initial and revised proposals put to it by the consortium.
“The board has concluded that, based on their revised proposal and subject to negotiation of and appropriate confidentially agreement, the members of the consortium will be granted the opportunity to conduct due diligence,” the company said.
“It is expected that this process will take several weeks.”
Healthscope continued to recommend shareholders take no action.
As at 1023 AEST, Healthscope shares were unchanged at $5.24.
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