what reuters have to say
MELBOURNE, Sept 8 (Reuters) - Shares in Australia's top private radiology operator DCA Group jumped as much as 11 percent on speculation that a private equity group would launch a A$1.66 billion ($1.26 billion) bid for the group on Friday. DCA Group would make a highly desirable target for a private equity fund because of its secure cashflows from radiology and aged care, said a source with another private equity fund, who declined to be named. "The rumour is there's going to be a A$3.50-a-share private equity bid this afternoon," said a health care analyst. DCA shares jumped as high as A$2.88 and last traded up 9.2 percent at A$2.84 a share. "There has been a lot of volatility in the share price over the past six months or so and a fair degree of volatility in volume as well," a DCA spokesman said on Friday, in the company's only comment on the latest share price jump. Last month, following a sharp share price rise on speculation of a bid, DCA Managing Director David Vaux said the company had received no offer.
DVC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held