(Adds context, chairman quote)
Nov 19 (Reuters) - Regis Healthcare Ltd's (REG) top shareholder and Australian investment firm Washington H. Soul Pattinson and Co (SOL) on Thursday offered to buy the struggling old-age home operator for A$556.4 million ($405.84 million).
Washington H. Soul said it and Ashburn Pty Ltd are offering A$1.85 per share, a premium of 25.4% to Regis' last closing price. Ashburn owns 27.2% of Regis.
"Given the regulatory uncertainty and funding challenges currently facing the aged care industry, WHSP believes that Regis' long-term prospects will be best served in a privately owned setting," said Rob Millner, chairman of Washington H. Soul.
Regis' stock has lost about 40% in value year-to-date as the COVID-19 pandemic has pushed costs higher and led to several infections at its old-age homes.
The company, which earlier reported a 54% drop in underlying net profit after tax for the full year, had net debt of A$236.7 million as of June 30.
Regis did not immediately respond to a request for comment. ($1 = 1.3710 Australian dollars)
News: SOL UPDATE 1-Australian aged-care firm Regis gets $406 mln offer from shareholder, investment...
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Last
$40.58 |
Change
0.080(0.20%) |
Mkt cap ! $14.92B | |||
| Open | High | Low | Value | Volume |
| $40.40 | $40.89 | $40.07 | $11.41M | 281.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 413 | $40.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.74 | 857 | 1 |
View Market Depth
| Last trade - 16.10pm 30/07/2025 (20 minute delay) ? |
| SOL (ASX) Chart |