Australia's National Veterinary Care in deal to be acquired for A$248.4m
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[BENGALURU] Australia's National Veterinary Care said on Monday it entered into an initial agreement to be acquired by a veterinary clinic chain operator, in a deal valued at A$248.4 million (S$228.3 million).
Under the deal, VetPartners has offered to pay A$3.70 for each share of National Veterinary Care, which represents a premium of about 56.8 per cent to the stock's last closing price.
VetPartners, owned by private company Australian Veterinary Owner's League, owns and operates more than 140 veterinary clinics in Australia, New Zealand and Singapore.
The board of the ASX-listed veterinary services provider said it unanimously backed the deal.
"VetPartners' proposal represents a significant premium to National Veterinary Care's current share price, is 100 per cent cash consideration and offers National Veterinary Care shareholders a high degree of certainty," said Susan Forrester, the company's chair.
Subject to approval by the country's Foreign Investment Review Board, it expects the scheme to be implemented in early April 2020, National Veterinary Care said in a statement.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Japan stocks look set for new highs in 2025 on earnings, reform
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
