Australia's Estia Health hits over 3-year high after getting premium buyout offer

Estia Health

24/03/2023 24:35

** Shares of aged-care provider Estia Health  EHE.AX  climb
as much as 21.4% to A$2.840, their highest since Nov. 18, 2019
    ** Shares set for their best day since November 2020, if
gains hold
    ** Co receives A$775.1 mln ($517.77 mln) non-binding buyout
proposal from U.S. private investment firm Bain Capital 
    ** Offer price of A$3.00 cash per share is at a 28.2%
premium to EHE's last closing price
    ** Co says it is considering the offer to assess if it is in
the best interest of shareholders to engage with Bain Capital
    ** As of last close, stock up 13% this year

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