VRT 0.00% $8.10 virtus health limited

(Adds details from statement, shares, background) May 27...

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    (Adds details from statement, shares, background)

    May 27 (Reuters) - Australia's Virtus Health Ltd (VRT) on Friday recommended its shareholders accept top investor BGH Capital's revised A$8.15-per-share takeover offer, following no response from rival suitor CapVest Partners on raising its bid.

    Shares of the fertility services provider were trading down 1.1% in early deals at A$8.06, about 1% lower than BGH's revised offer price.

    In a fresh turn of events earlier this week, BGH confirmed that UBS Securities Australia, its broker for the deal, bought Virtus shares at A$8.15 in the open market, automatically raising the offer price from A$8.00 per share.

    Melbourne-based private equity firm BGH Capital is now the biggest shareholder in Virtus with a stake of 22.4%, according to Refinitiv data.

    On Thursday, Virtus confirmed that investment firm CapVest Partners did not formally respond to a request on whether it would further increase its A$8.1-a-share offer.

    UK-based CapVest did not immediately respond to a request for comment from Reuters.

    Virtus said advisory firm Deloitte Corporate Finance, appointed as an independent expert, concluded that the CapVest proposal was not in the best interest of its shareholders.

 
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