Australia's Japara hits 25-month high on backing Calvary bid

Regis Healthcare

27/07/2021 05:37

(Updates)
    ** Aged-care home provider Japara Healthcare Ltd  JHC.AX 
soars 18.9% to A$1.385, its highest since June 2019
    ** JHC to back a A$1.4 per share, or A$380 mln ($280.48
mln), takeover offer by Little Company of Mary Healthcare, known
as Calvary
    ** The offer price represents a 20% premium to its last
close 
    ** JHC's board unanimously recommends the offer, in the
absence of a better proposal
    ** Non-profit residential care provider Bolton Clarke Group
had made a conditional proposal to buy JHC for A$326 mln earlier
    ** Other aged car providers also surge, with Regis
Healthcare  REG.AX  up 11% and Estia Health  EHE.AX  up 7.7%
    ** JHC shares climb by their most since April 30
    ** Volumes are more than 21x their 30-day avg moving volume
    ** JHC is up ~88% this year, as of last close

($1 = 1.3548 Australian dollars)

 (Reporting by Sameer Manekar and Nikhil Kurian Nainan in
Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))