Australia's APM Human Services gets takeover offer from largest shareholder (updated)

APM Human Services International

05/04/2024 24:22

(Adds details, background in paragraphs 3-5)
       April 5 (Reuters) - 
    APM Human Services International  APM.AX  said on Friday it
had received a letter of intention from its largest shareholder,
 Madison Dearborn Capital Partners, to acquire all shares of the
Australian employment services firm.
    The company, which went on a trading halt last week,
requested its trading suspension be extended to April 8 to
receive and consider the indicative offer.
        APM did not reveal further details but said it expects
to receive a non-binding indicative offer on Friday.
  
        Madison Dearborn owns more than 29% stake in the
company.
  
        The development comes after private equity firm CVC Asia
Pacific failed to go ahead with its A$1.83 billion ($1.20
billion) takeover offer for the company.
  



($1 = 1.5188 Australian dollars)

 (Reporting by John Biju in Bengaluru; Editing by Vijay Kishore)
 ((John.Biju@thomsonreuters.com))