Australia's Capitol Health soars on $272 mln takeover bid from Integral Diagnostics

Integral Diagnostics

17/06/2024 02:26

** Shares of Capitol Health  CAJ.AX  rise as much as 20.4%
to A$0.295, their biggest intraday pct gain since June 14, 2017
    ** Shares of the imaging services co hit their highest level
since May 22, 2023
    ** Co enters process and exclusivity deed with medical
imaging services firm Integral Diagnostics  IDX.AX   
    ** Says deed in relation to a conditional, non-binding
indicative merger proposal from Integral to acquire Capitol 
    ** Shares of Integral Diagnostics fall as much as 9.8% to
A$2.290, their biggest intraday pct fall since Nov 3, 2023
    ** Under proposal, Capitol shareholders would receive
0.12849 Integral shares per Capitol share
    ** Integral says merger ratio values Capitol at enterprise
value of A$413 mln ($272.66 mln)
    ** Capitol up 4.3% this year, as of last close while
Integral is up 33.3%
   
    ($1 = 1.5147 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))