A bid battle has broken out for dental surgeries chain Oasis Healthcare
with the stakes raised to 91p a share.
The new cash offer, worth £84.9m, comes from ADP Healthcare, which is
already the largest shareholder in Oasis with 18.25% after buying
heavily in the market over the past few days. ADP trades as Associated
Dental Practices.
Today’s development follows an 82p a share bid earlier this month from
Duke Street Capital. This bid was recommended by the Oasis board.
Duke Street has received irrevocable undertakings to accept the offer
for about 37.2% of Oasis. This could be a close-run thing.
Funny to thank that only last month the Oasis board was struggling to
persuade suitors to bid above 65p. Well done the directors for holding
out for more.
Oasis shares jumped 2p to 92p this afternoon. Clearly there is no point
in accepting the lower offer at this stage and much to commend holding
on to await further developments.
SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk
To view this article, become a Morningstar Basic member.
Register For Free
The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.