(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)
(Adds details on Australian competition regulator in paragraph...
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Mkt cap ! $514.6M | |||
| Open | High | Low | Value | Volume |
| $2.47 | $2.55 | $2.47 | $632.7K | 250.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 1 | 1502 | $2.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
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| $2.55 | 14126 | 5 |
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Last
$2.55 |
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0.080 ( 4.07 %) |
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| Open | High | Low | Volume | ||
| $2.49 | $2.55 | $2.49 | 55351 | ||
| Last updated 15.59pm 14/05/2024 ? | |||||
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