Acurity independent directors back bonus issue in Connor takeover
By Paul McBeth
Nov. 14 (BusinessDesk) - Acurity Health Group's independent directors have backed a two-for-11 fully imputed taxable bonus share issue as part of a takeover bid by Connor Healthcare, which wants to buy the 29 percent of the hospital operator it doesn't own.
Acurity's committee of independent directors recommended the board approve the issue requested by Connor, which would cost the company almost $2 million in withholding tax on behalf of shareholders, Acurity said in a statement. The bonus issue was struck by Connor and Ac...
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