Healthscope receives 2 new takeover bids
Hospital, pathology laboratory, and collection centre operator Healthscope announced it has received two additional indicative and non-binding proposals to acquire all of the company's issued capital for cash consideration by scheme of arrangement at a price of $5.80 per share.
Both proposals put the value of Healthscope at $1.84 billion.
Healthscope Board said bidders will be granted the opportunity to conduct due diligence, subject to negotiation of appropriate confidentially agreements.
"The Healthscope Board, together with its advisers, has considered these proposals using the same criteria as it used to assess the consortium's proposal and has formed the view that each is equal to or superior to the consortium's proposal," said Healthscope in a statement to the ASX.
Healthscope has yet to identify the bidders.
On 20 May 2010, Healthscope said it had received a takeover bid from a private equity consortium at a price of $5.75 per share. The private equity consortium was granted the opportunity to conduct due diligence.
Healthscope Board continues to recommend its shareholders to take no action.
"The due diligence process may or may not result in an offer for the company or a recommendation by the board. If it does not, the Board believes that Healthscope has a very attractive independent future and that the company is well-positioned to continue to deliver strong growth, "said Healthscope.
The Melbourne-based company booked a profit of $72.29 million for the 2009 fiscal year and reported an interim profit of $45.1 million last February.