Australia's APM Human Services surges on $865 mln buyout bid

APM Human Services International

03/06/2024 01:39

** Shares of APM Human Services International  APM.AX  rise
as much as 11.6% to A$1.395, on track for best day since
late-Feb
    ** Healthcare service provider's stock hits highest level
since March 26
    ** Co says it will be acquired by U.S.-based private equity
firm Madison Dearborn Partners (MDP) in a deal valuing it at
A$1.3 bln ($865.2 mln)
    ** Under the scheme, APM shareholders will receive A$1.45
per share, representing a premium of about 16% to stock's last
close
    ** APM board unanimously recommends shareholders vote in
favour of the scheme
    ** About 2.2 mln shares change hand compared to 30-day
average trading volume of 1.1 mln shares
    ** Stock up 2.0% YTD as of last close 


($1 = 1.5026 Australian dollars)

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