More than 30 sharks had been circling Abano before BGH's $5.70 offer
By Jenny Ruth |
Fri, 14 Feb 2020
Abano Healthcare's board identified and attracted interest from more than 30 parties before agreeing to back a takeover via a scheme of arrangement by private equity firm BGH Capital and the Ontario Teachers' Pension Plan Board.
Independent valuer KordaMentha said the $5.70 per share offer, which values Abano at $149.8 million, is above the mid-point of its $5.29 to $5.92 valuation and "unless a superior proposal is forthcoming, the positives of approving the scheme outweigh the negatives."
Abano's directors are unanimously recommending t...