Abano takeover scrapped as clinics closed; shares drop 13.9%

Jenny Ruth
Mon, 30 Mar 2020

Jenny Ruth
Mon, 30 Mar 2020
The takeover of Abano Healthcare has been scrapped and the company has now closed all its Australian dental clinics due to the covid-19 outbreak.Abano shares are down 32 cents, or 13.9 percent, at $1.99 and have dropped 61.7 percent year to date.The fight against the covid-19 virus constitutes a material adverse change and so has scuttled the takeover via a scheme of arrangement - which was approved by shareholders on March 20 - by private equity firm BGH Capital and the Ontario Teachers' Pension Plan Board, known as Bidco.The New Zealand denta...
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