Australia's Healius climbs on getting $1 bln bid from Australian Clinical Labs

Australian Clinical Labs

20/03/2023 24:30

** Shares of healthcare co Healius Ltd  HLS.AX  rise as much
as 9.4% to A$3.040, their highest since Feb. 16
    ** Australian Clinical Labs  ACL.AX  offers to buy HLS
through an all-share takeover, valuing the latter at A$1.52
billion ($1.02 billion)
    ** ACL will offer 0.74 share for every Healius share - with
the implied offer price representing a 4.2% discount to HLS'
last close
    ** If deal goes through, HLS shareholders will own 68% of
the merged entity
    ** HLS says it advised shareholders to not take any action
in relation to the offer
    ** ACL shares rise as much as 4.6% to A$3.765
    ** As of last close, HLS down 9.5% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))