US firm Madison Dearborn Partners to buy Australia's APM in $865 mln deal (updated)

APM Human Services International

03/06/2024 24:39

(Writes through with further details from paragraph 2)
       June 3 (Reuters) - Australia's APM Human Services
International Ltd  APM.AX  said on Monday it will be acquired by
U.S.-based private equity firm Madison Dearborn Partners (MDP)
in a deal valuing the company's equity at A$1.3 billion ($865.2
million). 
    Under the scheme, shareholders will receive A$1.45 cash per
APM share, representing a premium of about 16% to APM's last
close of A$1.25 on May 30. 
    MDP, also the company's top shareholder, had earlier in
April offered to buy the 71% of the Australian employment
services firm it does not own for A$1.40 apiece, slightly below
the agreed offer price. 
    The company had halted trading in shares on May 30 pending
an announcement on the acquisition proposal from MDP. 
    
($1 = 1.5026 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru; Editing by Jacqueline
Wong)
 ((Roushni.Nair@thomsonreuters.com;))