Healthscope Ltd
(ASX: HSO) has announced it has received another takeover offer from the BGH – AustralianSuper Consortium.
Healthscope is one of the largest private hospital businesses in Australia.
The takeover offer:
Healthscope said that the takeover offer was substantially the same as the previous one made six months ago by the BGH – AustralianSuper Consortium, particularly with the same offer price of $2.36 per share. Healthscope subsequently rejected that offer.
The proposal is preliminary and a non-binding indication of interest, so there is no guarantee of success.
There are a large number of conditions including due diligence, arranging debt for acquisition, receiving investment committee approval from the Consortium’s members, all regulatory approvals and a few operational conditions.
The Consortium also requires Healthscope to not sell its property assets, to remain on track for 10% hospital profit growth in FY19 and that the balance sheet’s debt position is in line with the FY18 result.
Ellerston Capital, a Healthscope shareholder, has indicated to Healthscope it would be supportive of granting due diligence and would support a takeover offer.
The Healthscope share price has risen 18.2% in early trade to $2.11. Healthscope recently revealed a 50% decrease of profit in the FY18 result.
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