Caixin
Jan 07, 2019 06:27 PM
BUSINESS & TECH

Australian Clinic Operator Spurns Chinese Suitor

Healius cited uncertainty surrounding funding for such a deal, as well as regulatory approval, as factors behind its decision. Photo: VCG
Healius cited uncertainty surrounding funding for such a deal, as well as regulatory approval, as factors behind its decision. Photo: VCG

Medical center operator Healius Ltd. has rejected a $1.2 billion buyout offer from Chinese real estate company Jangho Group, citing regulatory uncertainty and an offer price that undervalued the company.

Healius’ rejection comes just days after it received the original offer, and against a broader backdrop of higher scrutiny by Western governments concerned about threats to their national security such deals could pose. Jangho, which already owns about 16% of Healius, had previously offered AU$3.25 ($2.32) per share to buy the Australian company’s remaining shares it didn’t already own.

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