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KKR-Led Group in $14.9bn Bid for Australia’s Ramsay Health Care

The offer represented a 37% premium on Ramsay’s closing share price on Tuesday. The stock rose more than 25% on Wednesday to A$81 on news of the approach


Ramsay It stressed talks were at a preliminary stage and neither party had reached a final decision but KKR's intention was to acquire the company and take it private. Photo: Reuters

 

A consortium led by US private equity giant KKR has made a A$20.1 billion ($14.9 billion) offer for Ramsay Health Care, the Australia private hospital operator said on Wednesday.

The offer represented a 37% premium on Ramsay’s closing share price on Tuesday of A$64.39. The stock rose more than 25% on Wednesday to A$81 on news of the approach.

Ramsay has granted due diligence to the consortium on a non-exclusive basis, the company said in a filing to the Australian Securities Exchange.

It stressed talks were at a preliminary stage and neither party had reached a final decision but KKR’s intention was to acquire the company and take it private.

The consortium would pay shareholders A$88 per share, with the option of taking part of that in unlisted shares in the company.

Ramsay operates more than 500 hospitals in the UK, European Union, Malaysia, Indonesia and Hong Kong and recently acquired UK mental healthcare operator Elysium.

 

  • George Russell

 

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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