takeover talk reignited. Shares in trading halt. What do we think the new offer could be?
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takeover talk reignited. Shares in trading halt. What do we think the new offer could be?
Trading halt announcement refers to "speculation in the media this morning".
I've googled but came up blank. Does anyone have 'inside information' on what the media was speculating?
A post on the Sharesies Share Club facebook referred to a NBR report that negotiations between Australian private equity firm BGH Capital, Ontario Teachers’ Pension Plan and NZX-listed dental practice operator Abano Healthcare are in full swing with a decision imminent on the latest takeover proposal
This came out last week - https://www.afr.com/street-talk/bgh-...0200611-p551i2
Negotiations fell through back in March so it looks like they're back again for another attempt
Trading halt now lifted, announcement mentions NBR article and potential offers at $3.00 or $3.25 per share.
Market not impressed, price fell from $3.30 before halt to $2.94 last check.
Me not impressed also, down so much from the earlier retracted offer, yet dental isn't exactly discretionary spending and should claw back COVID-19 impact.
Disc: nervous holder
Maybe this is the article in question: https://www.nbr.co.nz/story/abano-deal-returns-dead
According to Google it's from May 14th, but maybe it's had some updates today.
It's paywalled and they don't take ABA.NZ as payment, so I'm out of ideas.
There are 26,282,238 ABA shares on issue,which at $2.96 gives a market cap of $77,795,424.
Raising the required $50mil to $70mil, just to stay in business, will be difficult,so any takeover above the current share price will be appealing [and best outcome] for shareholders.
Ouch....saw on the newbies Facebook...plenty of them bought ABA ...reconk it was too cheap....pre covid $5 ish
Last capital raise a few years ago was well supported ...over $8 from memory.