A consortium of investment companies has made a $4.1 billion unsolicited bid for Australian private health company Healthscope.
Healthscope, which was acquired by another consortium of investment companies in 2010 was removed and then re-listed on the ASX in 2014. It operates 45 hospitals across Australia with over 18,000 staff.
In a statement, the company said the indicative offer price of $2.36 cash per share represents a premium of 16 percent to the closing share price of $2.03 on 24 April 2018.
The consortium of financial investors comprises BGH Capital Fund I, AustralianSuper, Carob Investment Private Limited, Ontario Teachers’ Pension Plan Board and Canada Pension Plan Investment Board.
AustralianSuper already holds around 14 percent of Healthscope.
The consortium's proposal is subject to a number of conditions, including due diligence, arranging debt financing, member approval for some of the consortium, the receipt of all necessary regulatory approvals, and a requirement that the Healthscope Board agrees unanimously to recommend that shareholders vote in favour of the proposed bid.
The company said its Board has commenced an assessment of the proposal.