1 Min Read
(Reuters) -Ramsay Health Care Ltd said on Friday a group led by private equity giant KKR & Co pulled the plug on a near $15 billion all-cash buyout offer for the Australian hospital operator, but still kept doors open for further negotiation.
On Thursday, Ramsay received an alternate proposal from the KKR-led consortium, that would allow it to retain a 37% stake in its Paris-based unit Ramsay Generale De Sante, and valued Ramsay at A$84.93 ($59.14) a share.
Ramsay rejected the revised offer, calling it “meaningfully inferior”.
The buyout group added on Friday that it had elected to no longer seek due diligence access from Ramsay Santé and remained committed to the alternate proposal.
($1 = 1.4362 Australian dollars)
Reporting by Indranil Sarkar in Bengaluru; Editing by Rashmi Aich
