16 Mar Healthcare firm Healius rebuffs $2.1 billion takeover bid from Partners Group
Australian healthcare company Healius has turned down a AUS$2.12 billion ($1.31 billion) takeover offer from private equity firm Partners Group.
Healius said that the bid undervalued the company but added that it was open to further talks with Partners Group to get a better proposal from the Swiss firm.
Partners made the $3.40 per share all cash offer last month, after it bought China’s Jangho Group Co’s 15.9% stake in Healius.
“We recognise the extreme volatility in the share market at present and the pressure our shareholders are under to deliver returns to their clients,” said Healius chairman Rob Hubbard.
“Healius is also in the process of seeking offers for its medical centers business which is believed to be undervalued in the current share price.”
Jangho offered to buy out the medical center operator for $1.7 billion (or A$3.25 per share) last year, but saw its offer declined on grounds that it undervalued the company.