Healthscope Agrees to $1.7 Billion TPG Carlyle,Offer

Recommended that Australia Healthscope Limited (ASX: HSP.AX - News) said on Monday a takeover bid 1.73 billion dollars from private equity firms Texas Pacific (TPG.UL), and Carlyle (CYL.UL) in the wake of a bidding war for the owner of the nation's second-largest hospital.
Offered to Texas Pacific, Carlyle and $ 6.26 per share, worth A $ 1,990,000,000 ($ 1,730,000,000), as well as 16 percent, to close Healthscope on Friday, and 39% above the share price in May by Healthscope said first been contacted.
Fabricated display higher than expected rival offer from Kohlberg Kravis Roberts & Co. (KKR - News), which also provided the final presentation for Healthscope on Friday.
"After careful consideration, the Board concluded unanimously to submit to the union shareholders and provides an excellent opportunity to realize significant value from their investments in Healthscope", said President Linda Nichols in a statement.
The deal is conditional on shareholders, court approval of foreign investment review board.
The acquisition is the largest private equity deal in Australia since 2007, before the global financial crisis and rising financing costs throttle activity.
KKR made a presentation in May shows that the $ 5.80 per share, while according to the company, raising a previous attempt if Carlyle 5.75 per share last May.
Healthscope said the tender, including debt, valued the company at 2.7 billion dollars.
Seeks a hot health-care sector for growth in Australia, where the population in the expanding and aging, and the government seeks to use the patients to private health care.
A separate 573 million dollars in pending offer for rival drug Sigma (ASX: SIP.AX - News).
In Asia, and bidders are also fighting over the operator Parkway Hospital Singapore (SES: PARM.SI - News), which attracted bids from the state treasury in the Malaysian investor, India, Fortis Healthcare (Bombay: FOHE.BO - News).
Healthscope owns 43 hospitals, which represent 15 percent of the market in Australia, a private hospital, and businessmen in the country's third largest disease.
Advised Goldman Sachs JBWere and Lazard Healthscope on the deal.