KKR lobs $20 billion-plus bid for Ramsay

From the AFR

KKR lobs $20 billion-plus bid for Ramsay, diligence under way

KKR is in talks to acquire Australia’s biggest private hospital operator, Ramsay Health Care, in a deal valuing it at more than $20 billion,
Street Talk can reveal Ramsay is providing KKR with due diligence after the buyout giant made an indicative and non-binding offer to acquire the company.
Barrenjoey Capital Partners and Credit Suisse are advising KKR while Goldman Sachs is in Ramsay’s corner.
Sources said the offer was all cash with an option for some shareholders to potentially roll their stakes into the deal.
Ramsay Health Care’s biggest shareholder, late founder Paul Ramsay’s Ramsay Foundation, is believed to be supportive of the takeover talks.


A KKR spokesman declined to comment.
Should KKR firm up its offer and acquire Ramsay, it would be the biggest leveraged buy-out by a global private equity firm in Australia.