Healius slumps as Australian Clinical Labs withdraws $1 bln takeover offer

Healius

15/12/2023 24:41

** Shares of Healius Ltd  HLS.AX  fall as much as 9.2% to
A$1.380, their lowest level since Nov 28
    ** Stock set for its worst day since Nov 22, if losses hold 
    ** Australian Clinical Labs  ACL.AX  says it intends to
withdraw its A$1.52 bln ($1.02 bln) offer for Healius, citing
there has been a "significant" deterioration in the medical
centre operator's performance since the offer was announced
    ** Healius had received a takeover offer from Australian
Clinical Labs in March 
    ** The Australian competition regulator earlier said it
opposes ACL's takeover of HLS, citing lessening of competition 
    ** HLS stock on track to hit its worst week since Nov 24, if
current trend continues
    ** ACL shares fall as low as 2.4%, their worst level since
Dec 8
    ** Healius' stock down 46.5% YTD, as of last close
    

   ($1 = 1.4937 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))