Healthscope receives two more offers
Healthscope Limited (HSP) said it has received two takeover offers since Friday that topped that which was made by Blackstone Group and partners on May 20 valuing the hospital operator’s shares for $5.75 each. The company said the most recent offers both priced Healthscope’s shares at $5.80 each.
Media reports have already suggested Kohlberg Kravis Roberts & Co could be one of the new bidders.
Healthscope said after considering the proposals, its board has formed the view that both proposals are equal to or superior to the consortium’s proposal.
The company said it has therefore concluded that these parties would, subject to negotiation of appropriate confidentially agreements, also be granted the opportunity to conduct due diligence.
“The board considers that at this time the interests of shareholders will be best served by a formal process to thoroughly evaluate whether a change of control offer, at a price and on terms that the board would recommend, can be secured,” Healthscope said.
“In order to ensure that any process operates as quickly and effectively as possible the board does not intend to make any further announcements unless and until a recommended offer is secured, or unless there is a development which it judges should be disclosed immediately.”
The company said such a process would take “several weeks”.
Healthscope recommended shareholders take no action on the offers.
As at 1032 AEST, Healthscope shares were halted at $5.23.
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