Abano directors cave to takeover by scheme of arrangement

Mon, 11 Nov 2019

Directors of Abano Healthcare, which has a long history of fending off takeover offers, have not only capitulated to a bidder but have agreed to a scheme of arrangement, making it easier for the prospective buyer to gain control. Australia-based private equity firm, BGH Capital and the Ontario Teachers' Pension Plan Board are offering $5.70 per share, valuing Abano at $149.8 million. The bidding vehicle is called Adams NZ Bidco. Abano has agreed to suspend its dividend so will not be paying the first-half dividend it usually pays early ea...

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