Australia's APM Human slumps on discounted buyout bid from private equity firm

APM Human Services International

08/04/2024 02:53

** Shares of Australia's APM Human Services International
 APM.AX  fall as much as 30.1% to A$1.14, their biggest intraday
loss since Jan 18
    ** APM receives a buyout bid from U.S. private equity firm
Madison Dearborn Partners, valuing the health and human services
provider at A$1.28 bln ($840.70 million)
    ** Madison Dearborn, which already has an over 29% stake in
co bids for the shares it does not already own for A$1.40
apiece, a 14.1% discount to APM's last closing price
    ** Co sees underlying net profit after tax and before
amortisation for FY24 between A$95 mln and A$105 mln , lower
than A$178.2 mln posted last year
    ** Stock hits lowest since Feb 16
    ** Stock has risen 33.1% this year, as of last close 

   ($1 = 1.5225 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))