Australia’s Ramsay Health Care receives A$20b offer from KKR-led consortium

RAMSAY Health Care, Australia’s largest private hospital operator, said on Wednesday it received a A$20.05 billion (S$20.2 billion) takeover offer from a consortium led by private equity giant KKR & Co. The proposal of A$88 per share represents a premium of nearly 37 per cent to Ramsay’s Tuesday closing price of A$64.39. Ramsay operates hospitals and clinics across 10 countries in three continents, with a network of more than 532 locations, according to its website. The company said it would provide the KKR-led consortium with due diligence on a non-exclusive basis and that talks were at the preliminary stage. The hospital operator has hired UBS as its financial adviser. REUTERS