Australia's Estia Health rises as co agrees to Bain Capital's buyout offer

Estia Health

07/08/2023 01:44

** Shares of Estia Health  EHE.AX  surge as much as 9.9% to
A$3.12, set for their best day since June 7, if gains hold 
    ** The aged-care provider says it has signed a deal to be
taken over by U.S. private equity firm Bain Capital for A$826.8
million ($543.95 million)  urn:newsml:reuters.com:*:nL1N39N0HX
    ** The A$3.20 per share proposal at 25.5% premium to the
stock's closing price on June 6, before proposal was revealed 
    ** Shares hit highest since Aug 3 
    ** Estia stock down ~37.2% this year, as of last close

    ($1 = 1.5200 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))