(Adds details on Australian competition regulator in paragraph 2, ACL quote in paragraph 4)
Dec 15 (Reuters) - Australian Clinical Labs (ACL) said on Friday it intends to withdraw its takeover bid for buy Healius Limited (HLS) , citing a "significant" deterioration in the performance of the medical center operator since the offer was announced.
Earlier in the day, the Australian competition regulator decided to oppose Australian Clinical Labs' A$1.52 billion ($1.02 billion) buyout offer, as it is likely to result in a substantial lessening of competition in pathology services markets in the country.
Australian Clinical Labs noted a 45% slide in Healius' share price since announcement of the deal on March 20 and that its board was concerned for the latter's half-year results.
"The ACL Board is concerned based on the 1H Guidance that Healius is at risk of a significant statutory NPAT loss in 1H FY24," the company said in a statement.
Healius in November forecast its earnings before interest and tax for the first-half to be between A$14 million and A$17 million.
($1 = 1.4932 Australian dollars)
News: ACL UPDATE 1-Australian Clinical Labs to withdraw its $1 bln offer to buy Healius
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Mkt cap ! $446.0M | |||
| Open | High | Low | Value | Volume |
| $2.20 | $2.22 | $2.14 | $539.1K | 245.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 15 | 1270 | $2.21 |
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| Price($) | Vol. | No. |
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| $2.22 | 6301 | 12 |
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