Ca­pio board rec­om­mends Ram­say takeover bid to share­hold­ers


STOCK­HOLM — The board of Swedish health­care provider Ca­pio yes­ter­day rec­om­mended share­hold­ers ac­cept a raised takeover bid from France’s Ram­say Gen­erale de Sante, in­creas­ing the like­li­hood a deal will go through.

Ram­say Gen­erale, 50.9 per cent owned by Aus­tralia’s Ram­say Health Care, raised its bid to 58 crowns per share on Mon­day af­ter Ca­pio’s board re­jected an ini­tial bid of 48.50 crowns in July. Mon­day’s cash bid val­ued Ca­pio at around 8.19 bil­lion crowns (US$903 mil­lion).

A deal would help Ram­say be­come a lead­ing pri­vate pan-Eu­ro­pean health­care ser­vices provider, while Ca­pio has said that “re­po­si­tion­ing” to­ward Nordic mar­kets could en­hance its strate­gic fo­cus and drive share­holder value.

Ca­pio also de­cided to with­draw its pro­posal to sell Ca­pio France and has can­celed a planned ex­tra­or­di­nary gen­eral meet­ing at which it hoped to gain back­ing for the sale, it said.

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