Australia's Estia on track for best week in over 2 months on sweetened buyout bid

Estia Health

09/06/2023 06:38

** Shares of Estia Health Ltd  EHE.AX  up 14% so far this
week, set to mark best week since March 24, if trend holds
    ** Stock down about 0.5%, as of 0525 GMT
    ** Estia said on Wednesday it intended to back Bain
Capital's sweetened takeover offer that valued the aged-care
provider at A$826.8 mln ($553.54 mln)
    ** Under the revised proposal, Bain Capital to offer A$3.20
in cash for every EHE share
    ** EHE stock up 42% YTD, as of last close 

    ($1 = 1.4937 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))