Abano board questions Hutson’s conflict of interest in takeover bid

Mon, 16 Sep 2013

By Paul McBeth Sept. 17 (BusinessDesk) - Abano Healthcare’s board is taking advice on Peter Hutson’s ability to keep his directorship of the specialist healthcare investor while taking part in a $131.4 million takeover tilt with Australian private equity firm Archer Capital. Substantial shareholder notices today show Archer Capital, Hutson and James Reeves hold about 19.99 percent of Abano’s shares, and are locked up in a standstill arrangement for the next five months to allow the takeover attempt. Hutson’s fiduciary duties as an Abano dir...

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