(Adds background on offer, recent financial results of Regis)
Washington H. Soul Pattinson and Co (SOL) said on Wednesday it withdrew a sweetened bid to buy Regis Healthcare (REG) after the old-age home operator rejected the proposal, saying it "materially undervalued" the company.
The Australian investment firm said it had made an initial acquisition proposal in September, which valued Regis at A$1.65 per share, before raising the offer to A$1.85 per share in November.
The final offer, which Washington H. Soul had made along with Regis' top shareholder Ashburn Pty Ltd, valued the company at A$556.4 million ($428.26 million).
The aged-care services provider's stock fell 23.2% in 2020, with the company reporting a 54% decline in full-year underlying net profit after tax, citing inadequate government funding and the impacts of the COVID-19 pandemic. ($1 = 1.2992 Australian dollars)
News: SOL UPDATE 1-Australian investment firm scraps bid for Regis Healthcare
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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 |
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| Last trade - 16.10pm 30/07/2025 (20 minute delay) ? |
| SOL (ASX) Chart |