Abano calls dissident shareholders’ bluff with unconditional cash offer

Mon, 14 Apr 2014

By Pattrick Smellie April 14 (BusinessDesk) – Abano Healthcare is challenging a dissident shareholder view of the group’s value by offering a price for 50 percent-owned Bay International well above the valuation given last week in a report for investors Peter Hutson and Michael Reeves. Abano is offering to buy the 50 percent of Bay, an audiology business, owned by Hutson, for $12.9 million. That compares to a value range of between $6.3 million and $9.4 million for the stake in a report by Korda Mentha, which was issued last week in support o...

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