Why Healthscope’s Share Price is up 21% Today

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At time of writing the share price of Healthscope Limited [ASX:HSO] is up 21% today, trading at $2.16.

This marks a significant rise from a previous low, when it closed at $1.785 yesterday.

Healthscope operates in three divisions, private hospitals, international pathology centres and Australian pathology centres.

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Big takeover offer causes price jump

Today the company announced the offer of a $4.11 billion-dollar takeover offer.

The proposal is stated to be a preliminary, non-binding indication of interest to purchase the company at $2.36 cash per share.

The consortium that is interested in purchasing Healthscope is comprised of private equity firm BGH Capital and AustralianSuper.

However, the purchase is subject to a long list of conditions.

Takeover bid is similar to previous bid

Given the company views the proposal as ‘substantially the same,’ as the bid it rejected from the same consortium in May, there is uncertainty the takeover will proceed.

This was one of two bids it attracted during that month.

The board will now assess the bid to ensure that, ‘the transaction is in the best interests of shareholders.’

Regards,

Ryan Clarkson-Ledward,
For Money Morning

PS: If you are looking for big gains on the ASX, check out our free masterclass here.

Ryan Clarkson-Ledward

Ryan Clarkson-Ledward

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

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