Abano takeover scrapped as clinics closed; shares drop 13.9%

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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